Answer on Microeconomics Question for Kia
Coconut Airways is suffering from low revenues and inadequate profits. The managing director reports the following facts about the company's performance for the month.
Average fare: $100
Number of passengers: 2000
Price elasticity: -1.5
The company is proposing a fare increase to $110. Should the company go ahead with the increase? Explain.
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!