Originally Posted by
Often1
Yes, but this does not mean that you get a refund of 50% of the fare paid. You do not say if this is a domestic or international ticket and whether you purchased the ticket in the US or not. Some fares may be refundable, but carry penalties. Some international round-trips may cost far less than two one-ways.
For domestic flights, it would also be possible to have a cheaper one way fare on the return, for example a combination of F and P for FC or Y and B for coach as many (but not all) P and B fares are refundable.