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Each month, an airline sells 1,500 business-class tickets from London to Paris at $200 a ticket, and 6,000 economy-class tickets at $80 a ticket. Use this information to estimate the price elasticities of demand of business travelers and tourists respectively. The marginal cost per seat is constant at $50.

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9498077

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