Determine the percentage change in demand

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As the sales manager of a regional airline company, you have noted that when a round-trip ticket on a certain flight between Charlotte, NC and Atlanta, GA was priced at $169, 119 seats were sold. When the airline increased the price to $245, only 80 seats were filled. Your boss has asked you to determine the percentage change in demand that will occur if the ticket price is decreased by 5%, assuming constant elasticity demand.

Reference no: EM133125728

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