Suppose that business travelers and vacationers have the following demand for airline tickets from Karachi to Dubai:   Price Quantity Demanded (Business Travelers) Quantity Demanded (vacationers) $150 2100 Tickets 1000 Tickets $200 2000  800 $250 $300 1900 1800  600  400           As the price of tickets rises from $150 to $200, what is the price elasticity of demand for (i) business travelers and (ii) vacationers? (Use the midpoint method in your calculations.)

Q: 1.

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Q: Price

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