All of the Following Are Results of U

question 49

Multiple Choice

All of the following are results of U.S.airline deregulation EXCEPT

• A) the number of direct flights have been reduced.
• B) fares have been reduced.
• C) the most efficient companies have survived.
• D) the hub and spoke network has increased costs.
• E) 90% of passengers use discounted tickets.

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Definitions:

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product for which there are many substitutes.

External Benefit

A benefit that people other than the consumer or producer enjoy, resulting from a transaction or activity.

Economic Efficiency

A condition in which all available resources are utilized in the most effective manner to satisfy society's needs and wants, minimizing waste and maximizing value.

Market Price

The current market value at which an asset or service is up for sale or purchase.