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QUESTION
1. What effect, if any, does each of the following events have on the price elasticity of demand for corporate-owned jets?
1. What effect, if any, does each of the following events have on the price elasticity of demand for corporate-owned jets?
- The virtual reality technology becomes more inexpensive and popular in business online conferences.
- Reduced corporate earnings lead to cuts in travel budgets and increase the share of expenditures on corporate jet travel.
