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Recently, in the U.S. airline industry, major airlines have gone through a series of mergers and consolidated from 8-9 players to only four major ones. Additionally, airlines now manage their available seats better, such that they aren't under pressure to sell seats at the last minute. All of this has meant fewer airline price wars, fewer airline deals for customers, and consequently more industry profits.
Problem 1: The reduction in the number of major industry players highlighted in this example suggests that there is a change in which structural attribute within this industry?
a. Access to raw materials/inputsb. Fixed costsc. Differentiationd. Close substitutese. Industry concentration
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