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Instructions 1. Explain how each of the following events changes the demand for or supply of air travel. . Airfares tumble, while long-distance bus fares

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Instructions 1. Explain how each of the following events changes the demand for or supply of air travel. . Airfares tumble, while long-distance bus fares don't change. . The price of jet fuel rises. . The price of train travel falls. . The price of a pound of air cargo increases. . Airlines reduce the number of flights each day. . People expect airfares to increase next summer

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