Because business travelers' demand for airline flights is relatively _____,large increases in price will result in relatively _____ decreases in additional business travelers.

Question

Quizplus · Accepted Answer

Business travelers have limited flexibility in their travel plans and are less sensitive to price changes, making their demand price-inelastic. As a result, large increases in price will lead to only small decreases in additional business travelers.

Because Business Travelers' Demand for Airline Flights Is Relatively _____,Large