In the early part of the 20th century, it was cheaper to travel by rail from New York to San Fran...
In the early part of the 20th century, it was cheaper to travel by rail from New York to San Francisco than it was to travel from New York to Denver, even though the train to San Francisco would stop in Denver on the way.
Why do you think the train was cheaper to San Francisco? Explain.
Homework Answers
Let us look at the price setting factors:
1. Cost of fuel - more fuel will be required by the train heading
to SF than the one running to Denver. We can eliminate the
importance of this factor, since according to this, a ticket to SF
should cost more.
2. Origin - since both trains have the same origin, we can again,
eliminate this option.
3. Destination - SF is further away than Denver - one of the
reasons this might have cheaper rail tickets is to increase the
number of people coming to SF.
4. Supply and Demand - Denver might be the office commute of many
people, increasing demand, which meant trains could charge any
amount due to limited supply.
Hope this helped!
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