Scenario 15-5 An Airline Knows That There Are Two Types of Travelers

question 101

Multiple Choice

Scenario 15-5
An airline knows that there are two types of travelers: business travelers and vacationers. For a particular flight, there are 100 business travelers who will pay $600 for a ticket while there are 50 vacationers who will pay $300 for a ticket. There are 150 seats available on the plane. Suppose the cost to the airline of providing the flight is $20,000, which includes the cost of the pilots, flight attendants, fuel, etc.
-Refer to Scenario 15-5. How much profit will the airline earn if it sets the price of each ticket at $600?

• A)-$5,000
• B)$15,000
• C)$40,000
• D)$60,000

Comprehend methods for associating relaxation with anxiety-arousing situations.

Evaluate the effectiveness of psychotherapy and the influence of factors like the placebo effect.

Differentiate between cognitive therapy and cognitive-behavioral therapy.

Understand the concept of price elasticity of supply and demand.

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Definitions:

Connotation

The implied or associated meaning of a word or expression, beyond its explicit or primary meaning.

Stench

A strong and unpleasant smell.

Smell

The sensory perception of odors or scents by organisms, facilitated through the olfactory system.

Metaphor

A figure of speech in which a word or phrase is applied to an object or action to which it is not literally applicable, suggesting a resemblance.