The Following Patterns of Cruise Trip Are Noticed About Various

question 10

Multiple Choice

The following patterns of cruise trip are noticed about various life stages of travelers except:

• A) short- cruise passengers gets younger each year.
• B) longer cruises are for families with kids.
• C) the round- the- world cruise is usually for the elderly.
• D) cruises of two to three weeks are for the middle- aged passengers.

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Definitions:

Demand

The desire of consumers to purchase goods and services at given prices, which is a fundamental concept in economics determining market dynamics.

Long-Run Average Cost Curve

A graphical representation showing the minimum average cost at which any output level can be produced when all inputs are variable in the long run.

Short-Run

A timeframe in economics where at least one input, such as capital or labor, is fixed, limiting the ability of businesses to adjust production immediately.

Tangent

In economics, it represents a point where two curves touch, often used in optimization problems to find equilibrium points.