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Suppose you are an airline company manager. The total cost of a flight is $100,000. (fuel, food, beverage, etc.) and 200 seats are installed in the plane. So the average cost of each seat is $500. The flight is about to take off and there are 10 seats empty. Now a customer wants to take the flight but only want to pay $300. Should you let this customer board? Use one of the ten principles we have learned in the class explain your answer.

Suppose you are an airline company manager. The total cost of a flight is $100,000. (fuel, food, beverage, etc.) and 200 seats are installed in the plane. So the average cost of each seat is $500. The flight is about to take off and there are 10 seats empty. Now a customer wants to take the flight but only want to pay $300. Should you let this customer board? Use one of the ten principles we have learned in the class explain your answer..

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Q1. Suppose you are an airline company manager. The total cost of a flight is $100,000.

(fuel, food, beverage, etc.) and 200 seats are installed in the plane. So the average cost of

each seat is $500. The flight is about to take off and there are 10 seats empty. Now a

customer wants to take the flight but only want to pay $300. Should you let this customer

board? Use one of the ten principles we have learned in the class explain your answer.

Q2. read the article “Comparative Advantage and American Jobs” from Wall

Street Journal in 2011. According to this article, Former president Obama created a

Council on Jobs and Competitiveness to address the job crisis in the U.S. As pointed out

by the author, one of the principles that can guide the council away from repeating past

errors is that “A competitive America does not mean competitive success for every

American industry.” Based on what we have learned in the class about comparative

advantages and given the globalization of our economy, what is your suggestions to

Former President Obama if you were in the council? What industries are important to us

in which we need to be competitive?

Link:

an%20Jobs.pdf?dl=0

Q3. Read the article “Oil Prices: What’s Behind the Drop? Simple Economics” from

New York Time. In the section “Why did the price of oil drop in the first place?”, the

author explained some reasons for why the oil price dropped. Please use the language

and diagrams we have learned in the class to interpret these reasons. In the section “Who

benefits from the price drop?”, the author mentioned that natural gas price has fallen as

well. Use the diagrams we have learned in the class explain why so.

Link:

Behind%20the%20Drop_%20Simple%20Economics%20-%20The%20New%20York%20Ti

mes.pdf?dl=0

Q4. Please read the article “Taiwan Tries to Revive Its Banana Export Industry”. What kind of

impact does the banana industry make to the banana market? Which shifter of the demand or

supply curve they are trying to use?

Link:

nana%20Export%20Industry%20-%20The%20New%20York%20Times.pdf?dl=0

The post Suppose you are an airline company manager. The total cost of a flight is $100,000. (fuel, food, beverage, etc.) and 200 seats are installed in the plane. So the average cost of each seat is $500. The flight is about to take off and there are 10 seats empty. Now a customer wants to take the flight but only want to pay $300. Should you let this customer board? Use one of the ten principles we have learned in the class explain your answer. appeared first on Essay Quoll.

Suppose you are an airline company manager. The total cost of a flight is $100,000. (fuel, food, beverage, etc.) and 200 seats are installed in the plane. So the average cost of each seat is $500. The flight is about to take off and there are 10 seats empty. Now a customer wants to take the flight but only want to pay $300. Should you let this customer board? Use one of the ten principles we have learned in the class explain your answer.

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