Sometimes airlines raise ticket prices as the flight departure date approaches in the hope of increasing?

Question

Sometimes airlines raise ticket prices as the flight departure date approaches in the hope of increasing revenue. The airlines raise their prices on the assumption that ______.

a.) consumer demand becomes more price elastic as departure time approaches

b.) consumer demand becomes less price elastic as departure time approaches

c.) consumers are not aware of airline prices

d.) consumer demand is unrelated to prices

Answer 1

b.) consumer demand becomes less price elastic as departure time approaches