Question: If a 5% decrease in Qantas fares causes a 4% increase in the number of people flying with Qantas, the elasticity of demand for Qantas'

If a 5% decrease in Qantas fares causes a 4% increase in the number of people flying with Qantas, the elasticity of demand for Qantas' service is:

Select one:

a.0.8

b.1.25

c.2

d.0.8%

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