During Spring Break,students Have an Elasticity of Demand for a Trip

question 11

Multiple Choice

During spring break,students have an elasticity of demand for a trip to Cancun,Mexico,of −4.How much should an airline charge students for a ticket if the price it charges the general public is $420? Assume the general public has an elasticity of −2.

• A) $210
• B) $280
• C) $160
• D) $105

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Definitions:

Behaviours

The actions or reactions of an individual or group in response to external or internal stimuli.

Attitudes

Prevailing tendencies or views held by individuals towards objects, people, or events often influencing their behaviors.

Blended Learning

The use of multiple training methods to achieve optimal learning on the part of trainees.

Classroom Sessions

Educational or training meetings conducted in a traditional classroom setting, often used for instruction, skill acquisition, or professional development.