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When Ryan Air began flying between London and Paris the price of air travel between the two cities fell from an average of 100 euros

When Ryan Air began flying between London and Paris the price of air travel between

the two cities fell from an average of 100 euros each way to just 60 euros each way. As

a result, the EuroStar high speed rail line saw its annual ticket sales fall from 800,000 to

720,000 tickets. Calculate, interpret and explain the XED for air travel and train travel

between London and Paris.

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