Suppose that business travelers and vacationers have the following demand for airline tickets from Los Angeles to San Francisco:
Price
$150
$200
$250
$300
Quantity Demanded
(business travelers)
35,000
30,000
26,000
20,000
Quantity Demanded
(vacationers)
25,000
21,000
14,500
11,000
1. As the price of tickets rises from $200 to $250, what is the price elasticity for both
(a) business travelers and (b) vacationers ?
2. Why might vacationers have a different elasticity than business travelers?
3. What would be the Exact Quantity Demanded and change in Total Revenue if the
Airlines Change the Price for Business Travelers from $200 to $230?

Marketing1. suppose the average price for a new disposable cell phone is $20, and the total market potential for that product is $4 million. topco, inc. has a planned market share of 10 percent. how many phones does topco have the potential to sell in this market? 20,0002. use the data from question 3 to calculate topco, inc.'s planned market share in dollars. $400,0003. atlantic car rental charges $29.95 per day to rent a mid-size automobile. pacific car rental, atlantic's main competitor, just reduced prices on all its car rentals. in response, atlantic reduced its prices by 5 percent. now how much does it cost to rent a mid-size automobile from atlantic? $28.45