Because demand for air travel from people who are traveling on vacation is ________, the airlines offer leisure travelers lower prices than business travelers.
A. larger
B. more elastic
C. more inelastic
D. smaller
Answer: B
Economics
You might also like to view...
The supply curve of reserves is:
A) downward sloping. B) vertical. C) upward sloping. D) horizontal.
Economics
A straight-line demand curve along which the price elasticity of demand equals 0 is one that
A) forms a 45 degree angle with the vertical axis. B) forms a 60 degree angle with the horizontal axis. C) is vertical. D) is horizontal.
Economics
Based on the graph showing equilibrium output and price for a monopolist, if a monopolist is producing at Q2, it should ______.
a. reduce output to 0
b. reduce output to Q1
c. increase output to Q3
d. reduce output to QM
Economics
What is production? What economic factors are involved in production?
What will be an ideal response?
Economics