The Price of an Airline Ticket Rises as the Amount

question 145

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 more inelastic as departure time approaches.

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Definitions:

CRTC

The Canadian Radio-television and Telecommunications Commission, a regulatory agency for broadcasting and telecommunications in Canada.

Principles of Equity

Fundamental guidelines in legal systems that emphasize fairness, justice, and impartiality, especially in cases where strict application of laws may lead to an unjust outcome.

Radio Station

A broadcasting service that transmits audio programming via radio waves to the public.

Restricted Weapon

A classification for certain types of weapons that are subject to specific regulatory limitations on ownership, storage, and use.