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In June 2021, the aviation company Air France raised its rates for the Miami-Paris route from $ 1,200 to $ 1,350. Statistics show that passenger
In June 2021, the aviation company Air France raised its rates for the Miami-Paris route from $ 1,200 to $ 1,350. Statistics show that passenger numbers decreased from 970,000 in 2018 to 825,000 in 2019. What was the impact on Delta's revenue? Based on the calculation of the price elasticity of demand, would you recommend that Delta continue to increase prices? Explain and support your arguments.
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