A Large Airline Calculates That the Additional Cost of a Having

question 203

Essay

A large airline calculates that the additional cost of a having a passenger on a flight to the Bahamas as the cost of a bag of peanuts and a soft drink, which totals $1.50, but the airline's price is $600 for potential customers who want to buy vacant seats on the day of the flight.Which economic principle is this airline failing to utilize?

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Definitions:

Effector

An organ or cell that acts in response to a stimulus, often involved in producing a response in the body.

Trochlear

Refers to the fourth cranial nerve or its associated muscle, involved in eye movement.

Autonomic Reflex

A bodily reflex mediated by the autonomic nervous system that regulates the function of internal organs, such as heart rate and digestion, without conscious effort.

Pupillary Light

The reflex change in pupil size in response to changes in light intensity, which is vital for protecting the retina and adapting vision to varying light conditions.