1 Study Reading Between the Lines on pp. 112113 and then answer the following questions: a Suppose...
Question:
1 Study Reading Between the Lines on pp. 112–113 and then answer the following questions: a Suppose British Airways charges a higher price for a trip from London to Paris to someone who buys the ticket in Denmark than it does to someone who buys the ticket in London. Would this policy lead to underproduction or overproduction of trips from London to Paris for people who buy the ticket in Denmark? Use the concepts of marginal benefit, marginal cost, price, consumer surplus and producer surplus to explain your answer. b If the airlines are correct when they say that their pricing system just reflects differences in costs of selling tickets to people in different regional markets, what would be the impact of removing the pricing system?
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