13. At the price of $100, tourists demand 267 airplane tickets. At the same priće, businesschai ravelers demand 237. At the price $110, tourists demand 127 tickets and business travelers demand 127. Assuming that the demand curves of business travelers and tourists are both linear over this price Fange, what is the price elasticity of demand at the price $100? a. 4.96 b. 25 с. 5.46 d. 0.05 е. none of the above.

13. At the price of $100, tourists demand 267 airplane tickets. At the same priće, businesschai ravelers demand 237. At the price $110, tourists demand 127 tickets and business travelers demand 127. Assuming that the demand curves of business travelers and tourists are both linear over this price Fange, what is the price elasticity of demand at the price $100? a. 4.96 b. 25 с. 5.46 d. 0.05 е. none of the above.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 2E: The price elasticity of demand for personal computers is estimated to be 2.2. If the price of...

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