An Airline Knows That There Are Two Types of Travelers

question 274

Multiple Choice

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.How much additional profit can the firm earn by charging each customer their willingness to pay relative to charging a flat price of $600 per ticket?

• A)$15,000
• B)$25,000
• C)$40,000
• D)$70,000

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Definitions:

Value Creation

What the firm adds to a product or service by virtue of making it; the amount of benefits provided by the product or service once the costs of making it are subtracted.

Product

A good, idea, method, information, object, or service created as a result of a process and serves a need or satisfies a want.

Service

The action of helping or doing work for someone, often referred to in the context of providing intangible value such as customer support, maintenance, or consultation.

Staffing Tables

Charts or documents used by organizations to map out current personnel and forecast future staffing needs based on roles and departments.