The market price of airline flights increased recently.Some economists suggest that the price increased because of an increase in the number of business travelers.They believe that,in the market for flights:

Question

Quizplus · Accepted Answer

An increase in the number of business travelers would represent an increase in demand for flights, as those travelers are now competing with the existing demand from leisure travelers for a limited supply of seats on airplanes. This would lead to an increase in price, as airlines can charge more due to the higher demand. Therefore, choice (C) is the best option.

The Market Price of Airline Flights Increased Recently