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:

Probability Of Success

The likelihood of an outcome occurring that is deemed a success in a given trial or experiment.

Student Body

The group of students collectively attending an academic organization.

Female Students

Refers to students who identify as female in educational settings.