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What is the market structure in which qantas

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Reference no: EM133274288

Problem:

The Australian airline industry is largely dominated by Qantas, Virgin Blue and Jetstar with a market share of about 90%. Answer the questions below. 

  1. What is the market structure in which Qantas, Virgin Blue and Jetstar operate in Australia? Explain your answer using the market structure characteristics for the 3 firms (Qantas, Virgin Blue and Jetstar).
  2. Use a figure to explain what you understand by the term "Kinked demand curve" for Qantas, Virgin Blue and Jetstar market structure.

Reference no: EM133274288

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