The flaw in the given statement about price and demand for airplane tickets is that; An increase in the price of a ticket will not cause a decrease in demand, but rather a decrease in quantity demanded.
<h3>Price and Demand</h3>
This is about price and demand.
Now, in macroeconomics, we know that;
As the price of a product increases, there will be a corresponding increase in the quantity of that product supplied (but not a change in supply) and as well a reduction in the quantity of that product demanded (but not a change in demand). This will happen until the equilibrium price is achieved.
Now, in our question we see that they are insinuating that an increase in price would lead to a change in demand and that does not correspond to macroeconomics principle.
Thus, the flaw in the statement is that An increase in the price of a ticket will not cause a decrease in demand, but rather a decrease in quantity demanded.
Read more about Price and demand at; brainly.com/question/2398546
