From Geoff Riley's blog comes this graet piece on demand
http://www.tutor2u.net/blog/index.php/economics/comments/cheap-flights-elasticity-and-effective-demand/
a) Explain the difference between notional and effective demand for airlines
b) What is the formula for PED?
c) Using the information provided calculate the PED for flights
d) Using the information provided calculate the exact fall in the number of passengers if prices rise by 20%
e) Why is the PED likely to be inelastic?
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