an airline has 100 seats to sell on a plane traveling from new york to Los Angeles. it sells its tickets for $450 each. at this price, 97 tickets are sold. just as the plane is about to take off, a person without a ticket says he is willing to pay $150, but not one penny more, to buy a ticket on the plane. the additional cost of the additional passenger (to the airline) - that is, the marginal cost to the airline- is $100. is it in the best interest of the airline to sell the person a ticket for $150?
having a really hard time answering this Economics question, if anyone can help me answer this question correctly i would really appreciate it.
having a really hard time answering this Economics question, if anyone can help me answer this question correctly i would really appreciate it.