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question for economics 2) Suppose that at the price of $100, tourists demand 237 airplane tickets. At that same price, business travelers demand 247. a)

question for economics

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2) Suppose that at the price of $100, tourists demand 237 airplane tickets. At that same price, business travelers demand 247. a) At the price $110, tourists demand 127 tickets and the number of tickets demanded by business travelers is unknown. If the overall price elasticity of demand at the price $100 is 4.752 (in absolute value), what is the ticket demand of business travelers? (Assume that the demand curve is linear and therefore elasticity can be measured with the formula we went over in class) b) Would revenues increase or decrease (no need to try and calculate precisely) if the firm were to increase prices by a few dollars

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