The First Thing Many Airline Passengers Do on Arrival Is

question 12

Multiple Choice

The first thing many airline passengers do on arrival is make a phone call. TravelCom is a company that installs and operates coin operated phones in airports. Therefore, it would be a good idea to buy stock in TravelCom.

• A) Suppressed evidence.
• B) No fallacy.
• C) Accident.
• D) Appeal to ignorance.
• E) Red herring.

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Definitions:

Diminishing Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain constant.

Marginal Benefit

The additional satisfaction or utility derived by consuming or producing one more unit of a good or service.

Public Good

An item or service made available at no cost to everyone in society, delivered by public institutions, private organizations, or individuals without aiming for financial gain.

Marginal Cost

The cost of producing one additional unit of a good or service, a concept crucial for understanding economic decision-making and pricing strategies.