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Question
Teryn booked a flight to Boston for her little sisters wedding. When she boarded the plane, she found out that Frugal Fred, in the seat beside her, paid $100 less for his ticket. Teryn paid a higher price for her flight since she is more
a. price-elastic because she is the maid of honor at her sisters wedding.
b. price-inelastic because she would not dream of missing her sisters wedding.
c. price-sensitive because she does not like it when people get better deals than she does.
d. price-insensitive because she would have been just as happy to go to Boston any other weekend.
e. price-static because she always has the same demand for trips to Boston, regardless of the event.
Answer
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