(c) In the market for airline tickets, airline carriers have drastically cut fares for international air travel resulting in a 3% increase in ticket sales. Meanwhile, recent health considerations due to COVID-19 have caused an 11% reduction in the demand for international travel. Impact on supply Choose. Impact on price Choose. Impact on quantity Choose. Impact on demand Choose.

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
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Carefully explain what is happening in the following markets. Indicate the impact if any on demand, supply,
price and quantity:
(c) In the market for airline tickets, airline carriers have drastically cut fares for international air travel resulting
in a 3% increase in ticket sales. Meanwhile, recent health considerations due to COVID-19 have caused an 11%
reduction in the demand for international travel.
Impact on supply
Choose.
Impact on price
Choose.
Impact on quantity Choose.
Impact on demand
Choose..
Transcribed Image Text:Carefully explain what is happening in the following markets. Indicate the impact if any on demand, supply, price and quantity: (c) In the market for airline tickets, airline carriers have drastically cut fares for international air travel resulting in a 3% increase in ticket sales. Meanwhile, recent health considerations due to COVID-19 have caused an 11% reduction in the demand for international travel. Impact on supply Choose. Impact on price Choose. Impact on quantity Choose. Impact on demand Choose..
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