Why do airlines often charge students and vacationers a lower price than business travelers?
a. It is cheaper to provide airline service to students and vacationers than to business travelers.
b. The demand of business travelers is generally more elastic than the demand of students and vacationers.
c. The demand of students and vacationers is generally more elastic than the demand of business travelers.
d. Airlines prefer to deal with students and vacationers rather than business travelers.
C
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Which industry was deregulated in the late 1970s and 1980s?
a. low-cost housing b. pharmaceuticals c. airlines d. electricity
The curve that shows alternative combinations of the price level and real income that result in equilibrium in both the real goods and the money markets is called the:
A) aggregate demand curve. B) short-run aggregate supply curve. C) long-run aggregate supply curve. D) none of the above.