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The following is an excerpt from a May 2021, Wall Street Journal article on the rental car company, Avis Budget: Like other rentalcar companies. Avis
The following is an excerpt from a May 2021, Wall Street Journal article on the rental car company, Avis Budget: "Like other rentalcar companies. Avis Budget spent the pandemic unloading a large percentage of its eet to cut costs and boost protability amid tanking demand. In February. Avis Budget said it ultimately removed 31% of its eet due to the pandemic. Avis Budget said revenue per day was up 12% in the Americas in the rst quarter, and that those favorable pricing dynamics have largely continued into the second quarter. For now, a shortage of available rental vehicles, coupled with pentup demand for travel, have consumers paying up. In March, the cheapest rental car in Maui ran more than $700 a day, according to a report last month from Hawaii News Now." Source: (2021) Forman. Laura. "Avis Budget is Anything but Cheap," Wall Street Journal, May 4. 2021. Which of the following Supply and Demand model analyses for the rental car market best describes the increase in revenue for Avis Budget? Graph A
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