Price elasticity of demand for vacationers

Assignment Help Business Economics

Reference no: EM131074944

As the price of tickets rises from $200 to $250, the price elasticity of demand for business travelers is , and the price elasticity of demand for vacationers is using the midpoint method. Therefore, the demand for airline tickets at this price range is elastic for vacationers because business travelers are sensitive to changes in price.

Reference no: EM131074944

Questions Cloud

Describe three features of monopolistic competition : Describe three features of monopolistic competition that differentiate it from monopoly. Compare perfect competition and monopolistic competition. In what ways are they similar? In what ways are they different?

Number of excellent articles covering : The ABI/Inform Complete database features a number of excellent articles covering these concepts. In order to find these resources, you must first log into the myCSU Student Portal and access the ABI/Inform Complete database within the CSU Online ..

Describe any challenges encountered during the project : The final project packet will be due on the day of the final exam. The final project presentation will be held, however, on May 7th. The presentation must be 7-10 minutes and must include what design your group worked on. Introduce your part and..

What event is the choosen article discussing : What event is the article discussing (summarize in about 4-5 sentences)? I just asked "who" it was about. Now think about "what, where, why, and how."

Price elasticity of demand for vacationers : As the price of tickets rises from $200 to $250, the price elasticity of demand for business travelers is , and the price elasticity of demand for vacationers is using the midpoint method. Therefore, the demand for airline tickets at this price range..

Describe a primary decision maker : Describe a primary decision maker in example of target segment: who they are, what they like, how they make buying decisions. Describe the primary problem(s) your organization, product or service will help them solve.

Time-frame at hand is sufficient for inputs to be variable : If the time-frame at hand is sufficient for all inputs to be variable (adjustable), then the firm is

Rights of both business owners and of employees : Do you agree with the outcome of theHobby Lobbycase? Discuss what rights if any were given to businesses by the Supreme Court in Hobby LobbyandCitizens United. Explain how these two decisions may affect the rights of both business owners and of emplo..

Find the symmetric nash equilibrium : Consider a market that consists of n ≥ 2 identical firms. Each firm produces output at a constant average and marginal cost of 2. The market demand curve in this industry p = 20 – 2Q, where Q is market demand and p is price. Firms will choose output ..

User Account

All Pages