The price elasticity of demand for holidays in Greece is likely to be high because people tend to book up a long time in advance. there are plenty of different holidays abroad to choose from. expenditure on holidays account for a relatively small part of people’s total income. holidays at home provide no real alternative.

The price elasticity of demand for holidays in Greece is likely to be high because people tend to book up a long time in advance. there are plenty of different holidays abroad to choose from. expenditure on holidays account for a relatively small part of people’s total income. holidays at home provide no real alternative.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 3SQP

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