Question: Suppose that at a price of 400 300 tickets are
Suppose that at a price of $400, 300 tickets are demanded to fly from Ithaca, New York, to Los Angeles, California. Now the price rises to $600, and 280 tickets are demanded. Assuming the demand for tickets is linear; find the price elasticities at the quantity- price pairs (300, 400) and (280, 600).
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