If the Demand for Air Travel Were to Change So

question 115

Multiple Choice

If the demand for air travel were to change so that business travelers and vacationers have the same price elasticity of demand for air travel,

• A) airlines would charge the same price to each type of flyer.
• B) airlines would still charge business flyers a higher fare since the traveler's employer pays anyway.
• C) airlines would be driven out of business.
• D) airlines would counter by charging vacationers a higher fare.

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Definitions:

Cohabitation

The state of living together and having a sexual relationship without being married.

Concubinage

A relationship where a person cohabits with another without being legally married, historically often recognized in various cultures for secondary partners.

Polygamy

A form of marriage involving more than one spouse simultaneously.

Middle Adulthood

A period in human development typically ranging from the ages of 40 to 65, marked by physical, psychological, and social changes.