Suppose an Airline Determines That Its Customers Traveling for Business

question 196

Multiple Choice

Suppose an airline determines that its customers traveling for business have inelastic demand and its customers traveling for vacations have an elastic demand.If the airline's objective is to increase total revenue,it should

• A)increase the price charged to vacationers and decrease the price charged to business travelers.
• B)decrease the price charged to vacationers and increase the price charged to business travelers.
• C)decrease the price to both groups of customers.
• D)increase the price for both groups of customers.

Understand the basic elements of language including phonemes, morphemes, and semantics.

Recognize the impact of socioeconomic factors on cognitive development and intelligence.

Identify and explain various theories and measurements of intelligence.

Distinguish between Howard Gardner's multiple intelligences.

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Definitions:

Open 24 Hours

A business operation or service availability description indicating it is accessible any time of day, all days of the week.

Utility

Power of a good or service to satisfy a want or need.

Time

The indefinite continued progress of existence and events in the past, present, and future, regarded as a whole.

Day

A unit of time equal to 24 hours, typically from midnight to midnight, used as a basic measure of time in daily life and various calculations.