The price elasticity of demand for business air travel is -.80 and the price elasticity of demand for leisure air travel is -1.60. Therefore, the demand for leisure air travel

a. is less elastic than the demand for business travel.

b. is inelastic.

c. is more elastic than the demand for business travel.

d. is unrelated to consumers' incomes.

Mathematically, price elasticity of demand is the percentage change in the:

a. quantity demanded of a good divided by the percentage change in the price of the good.

b. price of a good that is demanded divided by the percentage change in quantity.

c. quantity of a good that is supplied divided by the percentage change in price.

d. price of a good that is supplied divided by the percentage change in quantity.

The concept of price elasticity can be applied to changes in:

a. quantity demanded, but not quantity supplied.

b. quantity supplied, but not quantity demanded.

c. both quantities supplied and quantity demanded.

d. neither quantity supplied nor quantity demanded.