Which of the Following Statements Is TRUE

question 25

Multiple Choice

Which of the following statements is TRUE?

• A) Customers who shop for airline tickets weeks or months in advance are likely vacation travelers and thus more sensitive to ticket prices.
• B) Customers who must purchase airline tickets for a flight tomorrow are likely business travelers and thus more sensitive to ticket prices.
• C) Customers who must purchase airline tickets for a flight tomorrow are likely business travelers and thus have more elastic demands.
• D) Customers who shop for airline tickets weeks or months in advance are likely business travelers and thus have inelastic demand.

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Definitions:

Owners

Individuals or entities that hold the legal right or title to property, assets, or intellectual property.

Not-For-Profit Corporation

A type of legal entity organized for purposes other than generating profit. Any surplus revenues are used to further its objectives rather than distributed to shareholders.

Surplus Revenue

the amount of income that exceeds the total cost of operations, often discussed in the context of businesses and government budgets.

Members

Individuals who belong to a group, organization, or body, having certain rights, roles, or obligations within it.