MEWK3

Discussion 75-150 words:

 

Problem 6 in the “Problems to Ponder” section at the end of chapter 7 asks you to consider two definitions of opportunity cost. Explain the meaning of both of them. Discuss.

 

Assignment:

Prepare a 2-3 page paper using APA format discussing Airline Ticket Prices.

An airline ticket costs the same from Casper, Wyoming to Denver, Colorado, and from Denver to Orlando, Florida. Does this make economic sense?

Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.

Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.