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Since the deregulation of air transportation, a community served by a single airline is no longer protected by a regulatory agency from monopoly pricing. What market forces, if any, restrict the ability of the airline to raise prices as a pure monopolist would? How effective do you think those market forces are in keeping airfares down?

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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 13, Problem 9DQ
Textbook Problem
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Since the deregulation of air transportation, a community served by a single airline is no longer protected by a regulatory agency from monopoly pricing. What market forces, if any, restrict the ability of the airline to raise prices as a pure monopolist would? How effective do you think those market forces are in keeping airfares down?

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