Multiple Choice
Prices of commercial airline tickets have fallen in recent months.Over this same period, the price of jet fuel has risen and consumer incomes have fallen.Which of the following best explains the falling prices of airline tickets? Assume that airline tickets are a normal good.
A) The supply curve for airline tickets has shifted to the left while the demand curve for airline tickets has shifted to the left.
B) The demand curve for airline tickets has shifted to the left more than the supply curve has shifted to the left.
C) The demand curve and the supply curve for airline tickets have both shifted to the right.
D) The supply curve for airline tickets has shifted to the left more than the demand curve has shifted to the left.
Correct Answer:
Verified
Correct Answer:
Verified
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