If, in response to a decrease in the price of grapes, the quantity of grapes demanded increases, economists would describe this as

Refer to Table 11.1. What is the value of the tax multiplier?

A) -0.67 B) -1.875 C) 2.33 D) 3

Which of the following is a reason why airline yield management is an effective method to increase revenue?

A) because airlines have successfully induced customers to reveal their resources and preferences by offering them different versions of the product such as business class and coach plane tickets B) because airlines have a monopoly in long-distance carriage C) because a ticket is a contract to transport a specific person, and is not transferable D) because airlines have invested heavily in developing computer models that identify optimal pricing strategies in the various market segments