An airline's flight is about to take off. It has a few empty seats left aboard. If it lowers its prices, it can fill the remaining seats and fly at full capacity. What should be done?
a. Sell the additional standby seats at a discount since the marginal costs of the additional passenger are almost zero and fly at full capacity
b. Sell the additional standby seats without a discount
c. Don't offer the additional seats for any price
d. none of the above
Question 2
Many bars close to campuses have started offering cheaper beer to consumers with a student ID. These bars
a. Assume students have an inelastic demand curve
b. Assume students have an elastic demand curve
c. Are practicing price discrimination
d. Both b and c
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