Many Airlines Have Not Reduced or Eliminated Fuel Surcharges Despite

question 230

Multiple Choice

Many airlines have not reduced or eliminated fuel surcharges despite the price of oil dropping. A logical reason for this is that the decline in fuel prices

• A) shifted the supply curve for airline tickets to the left, and at the same time an increase in demand for airline tickets shifted the demand curve to the right, so prices did not decline.
• B) shifted the supply curve for airline tickets to the right, and at the same time a decrease in demand for airline tickets shifted the demand curve to the left, so prices still increased.
• C) shifted the supply curve for airline tickets to the right, and at the same time an increase in demand for airline tickets shifted the demand curve to the right, so prices still increased.
• D) shifted the supply curve for airline tickets to the left, and at the same time a decrease in demand for airline tickets shifted the demand curve to the left, so prices did not decline.

---

Definitions:

Consideration

An essential element in contract law that involves something of value exchanged between parties, which can include money, goods, services, or a promise to act or not act.

Statutes of Limitation

Laws that set the maximum time after an event within which legal proceedings may be initiated.

Reasonable Price

A price that is fair, considering the circumstances of the sale and the market conditions, often used in legal and commercial contexts to determine the fairness of transactions.

Stolen Piano

A piano that has been unlawfully taken from its rightful owner.