The Deregulation of Airline Fares in the Late 1970s Marked

question 32

True/False

The deregulation of airline fares in the late 1970s marked the beginning of the move by government to loosen regulatory control.

---

Definitions:

Average Total

Typically refers to the average total cost, which is the total cost of production divided by the number of goods produced.

Total Variable

Expenses that change in proportion to the activity of a business, such as costs of goods sold, which vary with the level of production or sales volume.

Average Variable Cost

The variable costs of production (costs that change with output level) divided by the quantity of output, indicating the average variable cost per unit.

Producing Purses

Producing purses involves the manufacturing and assembling of various materials to create handbags and similar accessories.