What will happen to the quantity demanded

Reference no: EM132129914

Question: The demand curve for round trip air transportation between cities is given by Q= 5,000P^-0.8 X^0.2 y^0.5 z^.2 where P is price, x is flying time, y is air distance, and z is total population in the two cities. Given that for two cities, x= 3 hours, y= 1600 miles, and z= 5,000,000, the demand curve is given by Q= 5,445, 630 P^-0.8 A. what will be the number of roundtrip tickets demanded between these cities if the price is P= 600? B. What will happen to the quantity demanded if: (i.) the price increases by 1%? (ii.) the population in these cities increase by 1 %?

Reference no: EM132129914

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