What will happen to the number of passengers and total revenue on flights from Dallas to...
What will happen to the number of passengers and total revenue on flights from Dallas to Houston assuming ALL AIRLINES raise ticket prices by 20%? Increase, decrease, stay the same? Why?
Homework Answers
Assuming all the people who travel between this two cities are travelling for business purpose and the demand is inelastic, and increase in the price by all the services between this two cities will increase the revenue of the services,
if the demand is elastic, then an increase in the price will decrease the revenue. and if we go with a mixed demand then this will leave the revenue are same as fall in the number of customer will make up for the increase in the price.
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What will happen to the number of passengers and total revenue
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