An airline can profit by offering standby customers an unsold seat at a substantial discount just before takeoff because
A. additional passengers are needed to balance the load.
B. the marginal cost of additional passengers is very small.
C. additional passengers add little to fixed costs.
D. such passengers add more to profits than do those with reserved seats.
Answer: B
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A) 24 B) 8 C) 32 D) 16
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a. remained close to one third of GDP. b. fell by half to 50 percent of GDP. c. fell by half to 65 percent of GDP. d. remained close to 60 percent of GDP.
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A. an efficient allocation of resources. B. an overallocation of resources due to inadequate capacity. C. an underallocation of resources due to excess capacity. D. production at the minimum attainable average total cost.