If There Are Only Two Airlines That Fly Between Dallas

question 62

Multiple Choice

If there are only two airlines that fly between Dallas and New Orleans,what will happen in the market for one airline if the other one goes out of business?

• A)The demand curve will shift to the right.
• B)The demand curve will shift to the left.
• C)There will be a movement to the right along the initial demand curve.
• D)There will be a movement to the left along the initial demand curve.

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Definitions:

Error In Reasoning

A mistake or flaw in the logical process of deducing conclusions, often leading to incorrect or invalid arguments.

Premise

A statement or proposition from which another is inferred or follows as a conclusion, used as the basis for an argument.

Subjectivism

A philosophical stance asserting that knowledge and value are influenced by and dependent upon personal perspectives and experiences.

Fallacy

A mistake in the process of reasoning which makes an argument fundamentally incorrect.