The price of an airline ticket is typically lower if a traveler buys the ticket several weeks before the flight’s departure date rather than on the day of departure. This pricing strategy is based on the assumption that

Question

18-11-2022
Business

contestada

The price of an airline ticket is typically lower if a traveler buys the ticket several weeks before the flight’s departure date rather than on the day of departure. This pricing strategy is based on the assumption that

Respuesta :

Otras preguntas

You have a piece of wood that is 7 3/4 feet long. You want to cut one piece that is 3 7/12 feet long and one piece that is 4 1/12 feet long. Do you have enou

i need with math it say the ride-it store rents bicycles. the cost is $8.50 for 1 hour, $13.64 for 2 hours, $18.80 for 3 hours, and 23.95 for 4 hours. if the pa

Proof: Given: Isosceles trapezoid TRAP with TR=PA Prove: Angle RTA = angle APR

i need with math it say the ride-it store rents bicycles. the cost is $8.50 for 1 hour, $13.64 for 2 hours, $18.80 for 3 hours, and 23.95 for 4 hours. if the pa

Proof: Given: Isosceles trapezoid TRAP with TR=PA Prove: Angle RTA = angle APR

In the step by step simplification of expression below which property is not used? 3(1+x)3(x+1)3(x)+3(1)3x +3 A) associative B) commutative C) distributive D)

Proof: Given: Isosceles trapezoid TRAP with TR=PA Prove: Angle RTA = angle APR

i need with math it say the ride-it store rents bicycles. the cost is $8.50 for 1 hour, $13.64 for 2 hours, $18.80 for 3 hours, and 23.95 for 4 hours. if the pa

A laptop computer is priced at $650. If the sales tax is 5%, find the total cost of the computer, including sales tax.

ACCESS MORE

ewomazinoade ewomazinoade · Answer 1 · 2022-11-22T17:56:25+01:00

This pricing strategy is based on the assumption that travelers demand becomes less elastic as the departure date approaches.

What is the price elasticity of demand?

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

The more elastic demand is, the greater the quantity demanded of a good would be sensitive to price. All things being equal, it is expected that there should be a negative relationship between the price of a good and the quantity demanded.

The longer the time period, the more elastic demand is. This is because there would be enough time to search for suitable alternatives.

To learn more about price elasticity of demand, please check: https://brainly.com/question/18850846

#SPJ1