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wrote...
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2 months ago
If the price elasticity of demand for airline tickets is 1.4 for a leisure traveler and 0.7 for a business traveler, then a price-discriminating monopolist would charge

• a higher price for the business traveler than the leisure traveler.

• a lower price for the business traveler than the leisure traveler.

• the same price for both travelers.

• a less profitable price for the business traveler than the leisure traveler.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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wrote...
2 months ago
a higher price for the business traveler than the leisure traveler.
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