Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston:   PRICE QUANTITY DEMANDED (BUSINESS TRAVELERS) QUANTITY DEMANDED (VACATIONERS) 150 2100 1000 200 2000 800 250 1900 600 300 1800 400 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.) Why might vacationers have a different elasticity than business travelers

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A: Given : Price Qd(business) Qd(Vacations) 150 2100 1000 200 2000 800

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