During spring break, students have an elasticity of demand for a trip to Florida

| November 19, 2015

During spring break, students have an elasticity of demand for a trip to Florida of -3. How much should an airline charge students for a ticket if the price it charges the general public is $360? Assume the general public has a price-elasticity of demand of -2.

A. $200

B. $350

C. $460

D. $270 

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