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Activity: Airline Elasticity The purpose of this exercise is to do almost calculations and then see how the principles of economics contribute to determination making. You atomic number 18 not expected to do research on the flight path industry. You can resolvent the questions from the information provided at the link down the stairs addition a little of your own experience as an air lane passenger. Task Description This engagement is in three parts. It everyow for presumable take you less space to address the assignment than it does to preface it hither. Dont panic. PART 1 1.As the middle due west regional manager for American Airlines, you have recently undertaken a survey of economy-class despatch parts (the percentage of economy-class seats that atomic number 18 change with paying customers) on the Chicago-Columbus route that you service. The survey was conducted all all over 5 successive months. The survey results appear in the set back below. film tha t all other factors have remained constant over the 5-month menstruum: MonthAmericans impairment joins scathe periodic per capita incomeAmericans load factor (Q)joineds load factor (Q) 1$one hundred ten$112$1,9006560 21101101,9006263 31101102,1007066 41091101,9007061 51081101,9007259 2. institution on the data you have collected, how responsive is your companys load factor on the Chicago-Columbus route to your own price, income levels, and Uniteds price? Select appropriate months and compute sashay values to complete the following table. Elasticity (arc)Value (1) own-price snap bean of fleece out for Americans economy-class seats (2) income elasticity of petition for Americans economy-class seats (3) cross-price elasticity of demand for Americans economy-class seats with respect to Uniteds price on the same route Hint: Elasticity here is found on ceteris paribus conditions all other things unchanged. In fact, at that place should be only one pair of consecutive months that ensure the all ! other things unchanged criterion for each elasticity coefficient to be...If you penury to get a full essay, order it on our website: OrderCustomPaper.com

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