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The cost of flying a passenger plane from point A to point B is $50,000. The airline flies this route four times per day at 7am, 10am, 1pm, and 4pm. The first and last flights are filled to capacity with 240 people. The second and third flights are only half full. Find the average cost per passenger for each flight. Suppose the airline hires you as a marketing consultant and wants to know which type of customer it should try to attract, the off-peak customer (the middle two flights) or the rush-hour customer (the first and last flights). What advice would you offer?
Does this make economic sense? Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.
The demand curve for the perfect competitor is horizontal because. For each example below, identify which statement is not characteristic of a perfectly competitive industry.
explain the purpose of freight classification? explain the differences between the rate and a rating. how do they
Calculate the equilibrium price and quantity, consumer surplus, producer surplus and total surplus under autarky (that is, when Monona has a closed carp market).
Explain the change in the infant mortality rate (IMR) in the United States since 1960
a. Good Ais an inferior good and Goods A and B are substitutes. b. Good Ais an inferior good and Goods A and B are complements. c. Good Ais a normal good and Goods A and B are substitutes. d. Good Ais a normal good and Goods A and B are complements. ..
Is there too much or too little smoking? Explain why smoking bans on bars and restaurants do not efficient solve an externality problem.
a retail store would like to use loss control techniques to manage their risk of theft. what could be done to lower the
What explains that marginal cost increases as production of a product increases? inreasing cost law decreasing average cost property diminishing marginal product property law of increasing marginals thats just a sample this is not the test jeeff
A HR Director for a medium size public company. Under Americans with Disabilities Act are the following workers entitled to a affordable accommodation and, if so, what would be affordable:
a firm is considering bidding for the franchise to sell lemonade and corndogs at the illinois state fair. it estimates
Northern Granite Corporation, a corporation in New England, installs granite counter tops in houses. When it 1st entered the business, price per foot for installing a granite counter top was $180 per square foot,
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