Q1. Illustrate what is the elasticity of demand if you raise the price of your airline's tickets by 6% also the number of tickets sold decreases by 13%?
Q2. Analyze the rise also decline of Classical Economics from Adam Smith through works of Ricardo also J.S. Mill. In the period of the decline of the Ricardian model, analyze the various reactions to Ricardian economics, including Mill's attempt to revitalize Classical Economics.