Kamika lives in Chicago but goes to school in Tucson, Arizona. For the last 2 years, she has made four trips home each year. During 2010, the price of a round-trip ticket from Chicago to Tucson increased from 350 to 600. As a result, Kamika decided not to buy a new outfit that year and decided not to drive to Phoenix with friends for an expensive rock concert. QUESTION: Explain how Kamika’s demand for clothing and concert tickets can be affected by an increase in air travel prices.
Kamika lives in Chicago but goes to school in Tucson, Arizona. For the last 2 years, she has made four trips home each year. During 2010, the price of a round-trip ticket from Chicago to Tucson increased from 350 to 600. As a result, Kamika decided not to buy a new outfit that year and decided not to drive to Phoenix with friends for an expensive rock concert. QUESTION: Explain how Kamika’s demand for clothing and concert tickets can be affected by an increase in air travel prices.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Kamika lives in Chicago but goes to school in Tucson, Arizona. For the last 2 years, she has made four trips home each year. During 2010, the
QUESTION:
Explain how Kamika’s
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