Teryn booked a flight to Boston for her little sister's wedding. When she boarded the plane, she found out that Frugal Fred, in the seat beside her, paid $100 less for his ticket. Why did Teryn pay a higher price for her flight?
A) She is more price-elastic because she is the maid of honor at her sister's wedding.
B) She is more price-inelastic because she would not dream of missing her sister's wedding.
C) She is more price-sensitive because she does not like it when people get better deals than she does.
D) She is more price-insensitive because she would have been just as happy to go to Boston any other weekend.
E) She is more price-static because she always has the same demand for trips to Boston, regardless of the event.
Correct Answer:
Verified
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