Suppose that business travelers and vacationers have the following demand for airline ti...

Suppose that business travelers and vacationers have the following demand for airline tickets from new York to Boston:

a. As the price of tickets rises from $200 to $250, what is the price elasticity of demand for (i) business travelers and (ii) vacationers? (Use the midpoint method in your calculations.)

b. Why might vacationers have a different elasticity from business travelers?