The Price of an Airline Ticket Rises as the Amount

question 220

Multiple Choice

The price of an airline ticket rises as the amount of time between purchase and flight departure gets smaller.The airlines base the policy on the assumption that

• A)consumers are not aware of airline prices.
• B)consumer demand is unrelated to prices.
• C)consumer demand becomes more elastic as departure time approaches.
• D)consumer demand becomes less elastic as departure time approaches.

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