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Which of the following individuals is likely to have the most elastic demand for air travel? A. a person who is afraid to fly B. a person who enjoys flying C. a business traveler D. a retired person

User XepterX
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2 Answers

3 votes

Answer:

A. a person who is afraid to fly

Explanation:

Since they have a fear of flying, they may be more willing to adjust their travel plans or seek alternative modes of transportation. Their demand for air travel is more sensitive to changes in price or other factors.

User Daniel Eagle
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5 votes

Answer: Option A is correct. A person who is afraid to fly.

Step-by-step explanation: A person who is afraid to fly (Option A) is likely to have the most elastic demand for air travel because this person may be more responsive to changes in the price of air travel due to their aversion to flying. Elasticity of demand refers to the degree of responsiveness of consumers to changes in the price of a good or service. In this case, a person who is afraid to fly may be more likely to choose alternative modes of transportation or cancel their trip altogether if the price of air travel increases. On the other hand, a person who enjoys flying (Option B), a business traveler (Option C), or a retired person (Option D) may be less sensitive to changes in price and, therefore, have a less elastic demand for air travel.

User Mhtmalpani
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