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One airline is offering roundtrip coast-to-coast tickets for $240.00. At this price, 100 seats are demanded per flight. The airline decides to cut their price
One airline is offering roundtrip coast-to-coast tickets for $240.00. At this price, 100 seats are demanded per flight. The airline decides to cut their price to $235.00. At this lower price, the airline expects demand to increase to 110 seats per flight.
a) What is the price elasticity of demand for the airline's coast-to-coast air travel?
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
