Suppose an Airline Determines That Its Customers Traveling for Business

question 196

Multiple Choice

Suppose an airline determines that its customers traveling for business have inelastic demand and its customers traveling for vacations have an elastic demand.If the airline's objective is to increase total revenue,it should

• A)increase the price charged to vacationers and decrease the price charged to business travelers.
• B)decrease the price charged to vacationers and increase the price charged to business travelers.
• C)decrease the price to both groups of customers.
• D)increase the price for both groups of customers.

Understand the meaning and symbolism behind specific African masks and sculptures.

Identify and explain the materials and techniques used in African art, especially in textile production.

Understand the gender dynamics and social structures as reflected in African art and craft traditions.

Recognize the significance of personal adornment and its indicators of social status in African cultures.

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Definitions:

Exercise Care

The obligation to act with the prudence, caution, and attentiveness of a reasonable person in order to avoid harm to others.

Duties Under Tort Law

Obligations recognized by law for individuals or entities to avoid causing harm or injury to others, breach of which may result in liability.

Agent

A person authorized to act on behalf of another, known as the principal, in business transactions or legal matters.

Principal

The main party to a transaction or contract who has authorized another party (agent) to act on their behalf.