Name Page 2 of 2 7. Use the data on the table below to answer the following questions. Labor Requirements Computers Clothing Labor Hours per unit
September 3, 2020
Explain the difference between positive and normative economics. Give a real-time example of each that you found in doing some outside research.After doing some additional research on your own along w
September 3, 2020

Your firm resells airline tickets during the busy summer travel season. Your manager argues that the firm should charge, for the same flight route, a single price. This approach, your manager argues, would simplify pricing and lower administrative overhead. Another manager argues that the firm should increase prices for those who purchase close to the date of travel, and lower prices for those who book two weeks ahead of travel. Both turn to you and ask, “who is right?” Provide your answer and explanation for your answer.

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