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October 24, 2014

Homework Help: managerial economics

Posted by bernadette on Monday, November 23, 2009 at 10:22am.

Entry of new airlines to the CARICOM region is severely restricted and as a consequence regional airlines charges higher airfares than US airfares for routes of comparable distances. An airline expert estimates the annual air travel demand between Trinidad and Antigua to be:

Q = 1,000 10P; where Q is the number of trips in (000s) and P is the one-way fare in US dollars. In addition, the long-run average cost (one-way) per passenger is estimated to be $50

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