Answer
a) business travelers: -.231, vacationers: -1.285
b) Vacationers would have a different elasticity since they are more price sensitive to taking vacations. Business travelers do not care as much for a price change, and they are not as affected as much by a price change as vacationers.
Work Step by Step
a)
business travelers: price of 200, 2000 tickets; price of 250, 1900 tickets
vacationers: price of 200, 800 tickets; price of 250, 600 tickets
business:
$(Q_{2}-Q_{1})/[(Q_{2}+Q_{1})/2]$/$((P_{2}-P_{1})/[(P_{2}+P_{1})/2])$
$(2000-1900)/[(2000+1900)/2]/(200-250)/[(200+250)/2]$
$(100/(3900/2))/(-50/(450/2))$
$(100/1950)/(-50/225)$
$.0513/-.2222$
$-.2309$
vacationers:
$(Q_{2}-Q_{1})/[(Q_{2}+Q_{1})/2]$/$((P_{2}-P_{1})/[(P_{2}+P_{1})/2])$
$((800-600)/[(800+600)/2])/((200-250)/[(200+250)/2]$
$[200/(1400/2)]/[-50/(450/2)$
$(200/700)/(-50/225)$
$.2857/-.2222$
$-1.285$
