Suppose the Price Elasticity of Demand for Business Air Travel

question 144

Multiple Choice

Suppose the price elasticity of demand for business air travel is −0.80 and the price elasticity of demand for leisure air travel is −1.60. Therefore, the demand for leisure air travel is:

• A) less elastic than the demand for business travel.
• B) inelastic.
• C) more elastic than the demand for business travel.
• D) unrelated to consumers' incomes.

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Definitions:

Asexual

A term used to describe individuals who do not experience sexual attraction to others, but may still experience romantic attraction.

Sexual Attraction

Refers to the natural or instinctual allure or appeal one individual feels towards another, which can be based on physical, emotional, psychological, or social factors.

Same Sex

Refers to individuals or relations involving people of the same gender or sex.

Gender Expressions

The external manifestation of an individual's gender identity, usually through their clothing, hairstyle, voice, body shape, etc., which may or may not conform to socially defined behaviors and characteristics typically associated with being either masculine or feminine.