[Appendix; Advanced Material] If airlines found that the number of no-shows starts to increase, then its policy for optimal overbooking would tend to:
a. make them reduce the amount of overbooking.
b. cause them to increase the amount of overbooking.
c. let them keep the same amount of overbooking.
b
Economics
You might also like to view...
Which of the following costs always declines as output increases?
A) Average cost B) Marginal cost C) Fixed cost D) Average fixed cost E) Average variable cost
Economics
When ________ in a market, the total net benefit to society is maximized
A) deadweight loss is maximized B) a competitive equilibrium is achieved C) consumer surplus is minimized D) producer surplus is minimized
Economics