Because leisure travelers have more flexibility in terms of when they travel, the demand price elasticity for airline tickets for most leisure travelers tends to be
A) inelastic
B) elastic
C) elastic for price decreases, but inelastic for price increases
D) inelastic for price decreases, but elastic for price increases

Question

Quizplus · Accepted Answer

Because leisure travelers have more flexibility in terms of when they travel, the demand price elasticity for airline tickets for most leisure travelers tends to be elastic. They can shift when they travel to when tickets are cheaper or choose an alternative method of transportation.

Because Leisure Travelers Have More Flexibility in Terms of When