The Price of an Airline Ticket Rises as the Amount

question 220

Multiple Choice

The price of an airline ticket rises as the amount of time between purchase and flight departure gets smaller.The airlines base the policy on the assumption that

• A)consumers are not aware of airline prices.
• B)consumer demand is unrelated to prices.
• C)consumer demand becomes more elastic as departure time approaches.
• D)consumer demand becomes less elastic as departure time approaches.

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Definitions:

Equality of Condition

A social state in which people have the same status in certain respects, including civil rights, freedom of speech, property rights, and equal access to social goods and services.

Equality of Opportunity

The principle that all individuals should have an equal chance to pursue their own goals and interests, typically referring to non-discrimination in access to education, employment, and other resources.

Equality of Opportunity

The principle that all individuals should have the same chance to succeed, without discrimination based on background, race, gender, or other personal characteristics.

Equality of Condition

The idea that individuals must have the same starting conditions for opportunities, aiming at reducing socioeconomic disparities.