Prices of Commercial Airline Tickets (Assume That This Is a Normal

question 173

Multiple Choice

Prices of commercial airline tickets (assume that this is a normal good) have fallen in recent months.Over this same period,the price of jet fuel has risen and consumer incomes have fallen.Which of the following best explains the falling prices of airline tickets?

• A)The supply curve for airline tickets has shifted to the left while the demand curve for airline tickets has shifted to the left.
• B)The demand curve for airline tickets has shifted to the left more than the supply curve has shifted to the left.
• C)The demand curve and the supply curve for airline tickets have both shifted to the right.
• D)The supply curve for airline tickets has shifted to the left more than the demand curve has shifted to the left.

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Definitions:

Church of England

The Church of England is the principal Christian church in England, serving as the mother church of the worldwide Anglican Communion, characterized by its establishment as the state church of England with the monarch as its supreme governor.

Tobacco Cultivation

The agricultural process of growing and harvesting tobacco, which played a significant role in the economic development of colonies and states, particularly in the southern United States.

Indian Lands

Territories within the United States reserved for Native American tribes by the government, recognized as sovereign entities with certain levels of autonomy.

Virginia Planters

Wealthy landowners in colonial Virginia who dominated the social and political life of the region, primarily through their extensive cultivation of tobacco using enslaved labor.