Gillen and Hasheminia (2013) estimate that the elasticity of demand for air travel is -0.17 for people
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Gillen and Hasheminia (2013) estimate that the elasticity of demand for air travel is -0.17 for people traveling alone and -3.09 for couples. Are these demand elasticities elastic or inelastic? Which type of traveler has more demand? Why do you think these elasticities differ in this way?
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The price elasticity of demand is the percentage change in quantity demanded Q in response to ...View the full answer
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