Question
An aircraft has 100 seats, and there are two types of fares: full ($499) and discount ($99). While there is unlimited demand for discount fares,
An aircraft has 100 seats, and there are two types of fares: full ($499) and discount ($99). While there is unlimited demand for discount fares, demand for full fares is estimated to be anywhere between 10 and 30 (assume a uniform distribution - i.e., equal probability of any outcome). How many seats should be protected for full-fare passengers?
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International Economics
Authors: Robert C. Feenstra, Alan M. Taylor
3rd edition
978-1429278515, 142927851X, 978-1319029517, 1319029515, 978-1429278447
