Explain how economic theories play a factor into the Airlines decision making in setting higher ticket before flight..
Explain how some topic of microeconomics covered in class relates to this topic , how economic theories play a factor into the Airlines decision making in setting higher ticket prices for those tickets that are sold on a week before a flight. in class covered topics are include, principle of economics, thinking like an economist , opportunity cost, trade, supply and demand, elasticity and its application. Write a more detailed summary with charts and graphs. the assignment wants us to examine how economic concept applies in real life.