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A cruise liner sells two classes of tickets: economy class and first class. They also have identified two types of travelers, whom they call: Luxury
A cruise liner sells two classes of tickets: economy class and first class. They also have identified two types of travelers, whom they call: Luxury Conscious, and Budget Travelers. Based on some market research, they have the following information about these two segments and their willingness to pay (or valuation) for their ticket classes. The table above shows, for example that Luxury Conscious travelers value the economy class ticket at $200 and the first-class ticket at $1000 respectively. If the cruise liner now offers both types of tickets, economy class at $100 a piece, and first-class at $899 a piece, which class of ticket will the Luxury Conscious buy? Neither Economy Cannot say with data provided First
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