13. At the price of $100, tourists demand 267 airplane tickets. At the same priće, businesschai ravelers demand 237. At the price $110, tourists demand 127 tickets and business travelers demand 127. Assuming that the demand curves of business travelers and tourists are both linear over this price Fange, what is the price elasticity of demand at the price $100? a. 4.96 b. 25 с. 5.46 d. 0.05 е. none of the above.

13. At the price of $100, tourists demand 267 airplane tickets. At the same priće, businesschai ravelers demand 237. At the price $110, tourists demand 127 tickets and business travelers demand 127. Assuming that the demand curves of business travelers and tourists are both linear over this price Fange, what is the price elasticity of demand at the price $100? a. 4.96 b. 25 с. 5.46 d. 0.05 е. none of the above.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Sme preference or yespanse leves
At the price of $100, tourists demand 267 airplane tickets. At the same price, 'business
or
13.
travelers demand 237. At the price $110, tourists demand 127 tickets and business travelers demand
127. Assuming that the demand curves of business travelers and tourists are both linear over this price
range, what is the price elasticity of demand at the price $100?
a.
14.96
b.
25
с.
5.46
d.
0.05
е.
none of the above.
ANS: D DIF: 2

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