An Airline Finds That Its 6 P

question 213

Multiple Choice

An airline finds that its 6 P.M.flights are half-empty but its mid-afternoon flights are full.Which would be the MOST plausible thing for an economist to say?

• A) Cut the price of the early morning flight and raise the price of the afternoon flight.
• B) Nothing can be done to rectify the situation because of consumer sovereignty.
• C) Fewer flights should be scheduled in the afternoon to force travelers to take the morning flight.
• D) Nothing can be done because travelers are inflexible with their schedules.

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Definitions:

Efficient

The quality of achieving maximum productivity with minimum wasted effort or expense.

Utility Functions

Mathematical representations that indicate the level of satisfaction or utility an individual receives from consuming different bundles of goods and services.

Clothing

Textile-based materials worn on the body, primarily used for protection, modesty, and decoration.

Food

Nutrient-rich substances consumed by organisms to provide energy and maintain life.