Question: 1. 1.6 Based on the information provided in the Application Airplane versus Rail Travel, use a diagram, similar to panel a of Figure 4.2, to

1. 1.6 Based on the information provided in the Application

“Airplane versus Rail Travel”, use a diagram, similar to panel a of Figure 4.2, to illustrate how the change in the price of the airplane tickets changes the quan tities of air and train travel consumers undertake.

Determine the slope of the price-consumption curve.

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