Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Question: You are watching a television news show. A consumer advocate is discussing the airline industry. He says, "There are so many rates offered by airlines that it is technically possible for a 747 to be carrying a full load of passengers where no two of them paid the same price for their tickets. This is clearly unfair and inefficient." He continues, "In addition, the profits of the airlines have doubled in the last few years since they began this practice, and these additional profits are clearly a social burden. We need legislation that requires airlines to change all passengers on an airplane the same price for their travel"

List some of the ways airlines divide their customers according to their willingness to pay.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92408781
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Microeconomics

Question lobo lighting corporation currently employs 100

Question: Lobo Lighting Corporation currently employs 100 unskilled laborers, 80 factory technicians, 30 skilled machinists, and 40 skilled electricians. Lobo feels that the marginal product of the last unskilled laborer ...

Question soapy inc and suddies inc are the only producers

Question: Soapy Inc. and Suddies Inc. are the only producers of soap powder. They collude and agree to share the market equally. If neither firm cheats on the agreement, each makes $1 million profit. If either firm cheat ...

Question if the government decides to tax the consumption

Question: If the government decides to tax the consumption of cigarettes, (suppose there was not one on the market before) what will happen in the market for cigarettes? (Notice: This is a tax on CONSUMPTION not producti ...

Question the current price of a stock is 50 suppose the

Question: The current price of a stock is $50. Suppose the following distribution describes the possible prices that the stock will be in 1 year: the probability the stock price will be 45 is 0, the probability the stock ...

Question in a perfectly competitive market demand is qd 32

Question: In a perfectly competitive market, demand is QD = 32 - 1.5P and supply is QS = -20 + 2.5P. Find equilibrium price and quantity and producer and consumer benefits. Say an innovation then lowers every seller's ma ...

Question you just got a job in washington dc you move into

Question: You just got a job in Washington, D.C. You move into an apartment with some acquaintances. All your roommates, however, are slackers and do not clean up after themselves. You, on the other hand, can clean faste ...

Question think of the last two major things you bought why

Question: Think of the last two major things you bought. Why did you buy them? What were your opportunity costs in making the purchase? What would have been the opportunity cost, if you had NOT made the purchase? (Not al ...

Question many observers have noted the significant increase

Question: Many observers have noted the significant increase in federal government spending in the United States in recent years. In 2010 and 2014, federal expenditures were $3.1 trillion and $3.7 trillion respectively. ...

Question some fields have large enough quantities of both

Question: Some fields have large enough quantities of both oil and natural gas that coordination must be achieved for the production of both, rather than oil alone as in our examples. Will fields with both oil and gas ha ...

Question 1 consider the following utility function and

Question: 1. Consider the following utility function and corresponding marginal rate of substitution for consumption, C and leisure, and L: U = CL square ( just the L is square, the C is normal) and MRS = - L/2C . The co ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As