The Higher Cost for a Refundable Airline Ticket for Business

question 57

Multiple Choice

The higher cost for a refundable airline ticket for business travelers can be explained by:

• A)Price discrimination
• B)Indirect price discrimination
• C)Bundling
• D)Marginal revenue vs.marginal cost

---

Definitions:

Perception

The process by which individuals organize and interpret their sensory impressions to give meaning to their environment.

Environment

Refers to the surrounding conditions and factors that affect living organisms, including natural, cultural, and built environments.

Perceptual Distortions

Misinterpretations or misunderstandings of sensory input due to biases, prejudices, or errors in judgment.

Framing

The way information is presented or organized to influence people’s perceptions, decisions, and judgments.