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Qantaslink: Constraints In The Pharmaceutical Industry

315 Words2 Pages

A high price would not attract customers and demand would be low as shown above. If the cost of flights were decreased it would attract more buyers and increase the quantity, generating revenue from the lower price. An elastic price is beneficial for QantasLink as it will generate revenue, but only if the elasticity of demand is more than one. QantasLink is able to charge a higher price for business than for leisure travellers due to time constraints, for businessmen, this is a valuable resource. When considering whether to spend money on a flight, need and want are considered by consumers and whether they will spend extra money for the convenience and time saved by flying instead of alternate options available. The flexibility and time saved

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