TABLE 10- 2 Your Food- Services Company Has Been Named

question 20

Multiple Choice

TABLE 10- 2 Your food- services company has been named as the sole provider of meals at a small university.The cost and demand schedules are: $$\begin{array} { | c | c | c | c | c | } \hline \text { Sold per Day } & \begin{array} { c } \text { Price per } \\\text { Meal }\end{array} & \begin{array} { c } \text { Total } \\\text { Fixed Cost }\end{array} & \begin{array} { c } \text { Total } \\\text { Variable Cost }\end{array} & \begin{array} { c } \text { Total } \\\text { Revenue }\end{array} \\\hline 0 & \$ 3.50 & \$ 150 & \$ 0 & \$ 0 \\\hline 100 & \$ 3.25 & \$ 150 & \$ 300 & \$ 325 \\\hline 200 & \$ 3.00 & \$ 150 & \$ 500 & \$ 600 \\\hline 300 & \$ 275 & \$ 150 & \$ 650 & \$ 825 \\\hline 400 & \$ 250 & \$ 150 & \$ 750 & \$ 1000 \\\hline 500 & \$ 225 & \$ 150 & \$ 830 & \$ 1125 \\\hline 600 & \$ 200 & \$ 150 & \$ 905 & \$ 1200 \\\hline 700 & \$ 1.75 & \$ 150 & \$ 995 & \$ 1225 \\\hline\end{array}$$
-One reason airlines charge a higher price to business travellers is that

• A)government sets the price policies.
• B)business travellers have a relatively lower demand elasticity than other travellers.
• C)business travellers have a relatively higher demand elasticity than other travellers.
• D)they are thereby able to minimize costs.
• E)business travellers don't profit maximize.

---

Definitions:

Biofeedback

A method enabling people to enhance their health by managing typically automatic bodily functions, like their heart rate or blood pressure.

Life Expectancy

The average period that an individual is expected to live based on demographic factors like current age, gender, and health conditions.

Social Support

Refers to the physical and emotional comfort given to us by our family, friends, co-workers, and others. It's knowing that we are part of a community of people who love and care for us and value and think well of us.

Type A Personalities

A personality type characterized by competitiveness, high ambition, aggressiveness, impatience, and a fast pace of life.