Scenario 15-5 An Airline Knows That There Are Two Types of Travelers

question 256

Multiple Choice

Scenario 15-5
An airline knows that there are two types of travelers: business travelers and vacationers. For a particular flight, there are 100 business travelers who will pay $600 for a ticket while there are 50 vacationers who will pay $300 for a ticket. There are 150 seats available on the plane. Suppose the cost to the airline of providing the flight is $20,000, which includes the cost of the pilots, flight attendants, fuel, etc.
-Refer to Scenario 15-5. How much profit will the airline earn if it engages in price discrimination?

• A)-$5,000
• B)$40,000
• C)$55,000
• D)$75,000

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Definitions:

Surveys

A research method used for collecting data from a predefined group of respondents to gain information and insights on various topics of interest.

Questionnaires

A set of written or digital questions used for gathering information or opinions from individuals.

B.F. Skinner

A prominent psychologist and behaviorist known for his work on operant conditioning and reinforcement.

Behaviorism

Behaviorism is a psychological approach that focuses on the study of observable behaviors, emphasizing the role of environmental influences on behavior.