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Management is reviewing ticket prices for their new flights from Denver to fresco. After looking at the data you determine on average the flights are
Management is reviewing ticket prices for their new flights from Denver to fresco. After looking at the data you determine on average the flights are 80% full. More over you estimate that at current prices, the price elasticity is -3/4. Based on this demand elasticity, and assuming a similar demand for airfare into the foreseeable future, indicate how prices should be changed for this fresco route to increase ticket revenues, should prices be raised or posters or held constant
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