The Elasticity of Supply for Airplane Travel One Day in Advance

question 157

Multiple Choice

The elasticity of supply for airplane travel one day in advance of the departure date is most likely to be

• A)substantially lower than -1.
• B)between -1 and zero.
• C)between zero and 1.
• D)approximately equal to 1.
• E)greater than 1.

---

Definitions:

Extrinsic Motivation

Motivation driven by external rewards such as money, praise, or avoiding negative consequences, rather than intrinsic satisfaction.

Intrinsic Motivation

A driving force that inspires individuals to engage in activities for their own sake, due to the personal satisfaction or pleasure they derive, rather than for external rewards.

Performance

Performance is the act of carrying out a task or function, often measured against preset known standards of accuracy, completeness, cost, and speed.

Quality Of Performance

The measure of how well a task or job is executed, often evaluated against a set of standards or objectives.