If the Demand for Air Travel Were to Change So

question 115

Multiple Choice

If the demand for air travel were to change so that business travelers and vacationers have the same price elasticity of demand for air travel,

• A) airlines would charge the same price to each type of flyer.
• B) airlines would still charge business flyers a higher fare since the traveler's employer pays anyway.
• C) airlines would be driven out of business.
• D) airlines would counter by charging vacationers a higher fare.

---

Definitions:

Data Labeling

The process of identifying raw data (such as images, text files, videos) and adding meaningful and informative labels to them, making it easier for machine learning models to understand.

Reinforcement Learning

An area of machine learning focused on how agents ought to take actions in an environment to maximize some notion of cumulative reward.

Artificial Intelligence

A branch of computer science focused on creating systems capable of performing tasks that typically require human intelligence.

Voice-Based Interactions

A technology feature that enables users to interact with devices or applications through vocal commands rather than using traditional input methods like keyboard or touch.