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A study of the demand for air travel between two cities depends on the airfare according to the following demand equatio
Posted: Mon Jul 11, 2022 10:48 am
by answerhappygod
- A Study Of The Demand For Air Travel Between Two Cities Depends On The Airfare According To The Following Demand Equatio 1 (25.73 KiB) Viewed 40 times
A study of the demand for air travel between two cities depends on the airfare according to the following demand equation. q=55.1-0.022p a. Find the elasticity when the price is $166.47. E= (Round to the nearest thousandth as needed.) b. Is the demand for airfare elastic or inelastic at this price? The demand for airfare at $166.47 is c. Find the price that maximizes revenue. Revenue will be maximized when the price is $ (Round to the nearest dollar as needed.)