The Australian airline industry is largely dominated by Qantas, Virgin Blue and Jetstar with a market share of about 90%. Answer the questions below. a) 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) b) Use a figure to explain what you understand by the term “Kinked demand curve” for Qantas, Virgin Blue and Jetstar market structure

Q: 3. From the data in the table, calculate the average annual inflation rate as measured by the CPI…

A:

Q: Table 1 Year CPI 2013 97.8 2014 98.6 2015 100 2016 102.5 2017 104.1 a. Calculate CPI inflation rates…

A: Inflation is the rate of increase in prices over a given period of time. Inflation is typically a…

Q: Which is not a fixed cost? Group of answer choices an insurance premium of $50 per year, paid last…

A: Fixed cost are the cost that doesn't change over the change in quantity.  Fixed cost remain fixed at…

Q: Can these activities be considered part of GDP?  (i) A garage buys spare tires to sell to customers…

A: GDP refers to the total value of goods and services being produced inside the geographical…

Q: When there are positive fixed costs, can the average variable cost curve and average total cost…

A: We have 3 different costs, ATC, AVC and AFC where ATC is the sum of AVC and AFC. Given that are…

Q: Use the sum-of-the-years'-digits depreciation method to make a depreciation schedule (first two…

A: Given  First cost (FC)=$28000 Salvage value (SV)=$2600 The expected life of forklift =10 years.…

Q: Assume an aggregate production function where Y=(L^0.6)*(K^0.4). Then it must be true that. O a. the…

A: Y = L0.6 K0.4 Differentiate Y w.r.t L to get MPL => MPL = dY / dL => MPL = 0.6 (K/L)0.4 If we…

Q: The saving function of an economy is shown. Dissaving occurs OA. at an income level of $20 billion.…

A: What is dissaving? Negative saving; is a condition in which spending exceeds income. Dissaving can…

Q: In the quantity equation, MV = PY, if velocity is constant, real GDP is growing at 2% per year, and…

A: The quantity theory of money:-  MV = PY  M = money supply  V = velocity P = inflation Y = real GDP

Q: Complete the following table for the consumption function: $600+ 0.60Y. (Round all answers to three…

A: Average Propensity to Consume = C/Yd  Average Propensity to Save = S/Yd

Q: Which of the following statements is correct about a business income coverage form? 1. it must be…

A: Business income coverage form is a type of an insurance policy that covers loss of income from…

Q: n economy's consumption function is depicted in the table below. Disposable Income Y ($, billions) 0…

A: Marginal Propensity to save (MPS) is the change in savings when there is an additional change in the…

Q: The interest rate is 6 percent a year and you expect to receive $1,000 next year and the following…

A: Given  Rate of interest =6% per year First-year end, we expect to receive $1000 and the following…

Q: The Time of Payment of Claims provision requires that an insurance company pay Disability Income…

A: The Time of Payment of Claims provision requires that an insurance company pay Disability Income…

Q: When pollution is put into the environment by factories who produce a specific good, is NOT a method…

A: Production activities sometimes lead to the creation of negative externalities. Negative…

Q: Use the accompanying graph to answer the following questions. Assume the company makes 83,000 parts…

A:

Q: Consider the following data on Prices and Quantities of T-Shirts and Pajamas.    1. Calculate the…

A: Nominal GDP is the value of all final goods and services produced within the domestic territory of…

Q: A recent government study reported that a college degree is worth an extra Php 35947 per quarter…

A: Given,  i = 6% i.e. 0.06 n = 31 years  Extra amount per year = 35947 × 4 = 143788

Q: Bailey, Inc., is considering buying a new gang punch that would allow them to produce circuit boards…

A:

Q: country can only produce either 5 units, 10 units or 15 units. The total production of the two…

A: The Nash equilibrium is a decision-making theorem within game theory that states a player can…

Q: Identify any 5 factors that will shift a demand curve to the right. Explain each factor.

A: Rightward shift in demand curve = Increase in demand without any change in price of the good.…

Q: What is the present equivalent of a uniform series of quarterly payments of $4,500 each for 7 years…

A: The rate of interest compounded bi-monthly states that the interest will be compounded every two…

Q: An economy's consumption function is depicted in the table below. Disposable Income (Y) ($ billions)…

A: total expenditure is the sum of consumption plus investment

Q: The followings are short run  production functions for two firms operating in different industries…

A: Marginal product refers to that additional unit of output produced by employing one more unit of…

Q: Managerial Economics What is the answer to the following questions (1-3)? 1. What are primary…

A: Whatever is utilized in creating a commodity is called its input. For instance, for delivering…

Q: Time left 0:51:22 Suppose your college institutes a new policy requiring you to pay for a permit to…

A: A course of action designed to affect or regulate the economy's behaviour is known as an economic…

Q: Economy’s entire money supply is $400,000 and required reserve ratio is 15%. As a result of the…

A: Part (a)  When 8000 is repaid, as per rule bank require to keep 15% of the deposit as a reserve…

Q: u are the manager of a monopolistically competitive firm, and your demand and cost. ctions are…

A: DISCLAIMER “Since you have asked multiple question, we will solve the first three subparts question…

Q: Continue your analysis of the video poker market in Chambana: demand by patrons for the games (in…

A: Here we are given the market for video poker. In this market there is a supply and the demand curves…

Q: Suppose the short-run equilibrium level of real GDP is $3,000 billion and the MPC = 0.75. If full…

A: Given  Short run, real GDP is $3000 and Full employment GDP is $4000 MPC=0.75. We know from the…

Q: In a simple economy (assume there are no taxes, thus Y is disposable income), the consumption…

A: Consumption Function : C=750+0.9Y   Autonomous consumption is that consumption level that occurs…

Q: An insured is injured while robbing a bank. If the insured's Accident and Health policy contains an…

A: We know that, The person who obtains insurance on his own possessions. It is the insured's…

Q: Ex 8. An airline's data indicate that 50 percent of people who begin the online process of booking a…

A: We have sample and its results as Sample size n=300 And x=117 We can find out the p, by sing the…

Q: Atlantic Control Company purchased a machine two years ago at a cost of $70,000.  At that time, the…

A: Cashflows. The term cash flow implies the net amount of cash and cash equivalents being transferred…

Q: ipeline engineer working in Yemen for the oil giant BP wants to perform a present worth analysis on…

A: We have given two alternatives whose cash flow schedule is given below.   Land Undersea…

Q: e dle Top Middle Bottom Left Column (-5, -1) (1,-3) (0, 10) Center (2, 2) (1,2) (0,0) Right (3, 3)…

A: The concept is based on game theory. The dominant strategy of row player means that the strategy…

Q: You are provided with the following information about an imaginary economy called Keynesia:…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first three subparts…

Q: How much money should be deposited each year for 10 years starting 1 year from today, if you wish to…

A: Here we are given the cash flow. And using the formulas mentioned below of annuity and present value…

Q: It is possible for everyone to enjoy a comparative advantage in a task of their choosing. Why?

A: The theory of absolute advantage was developed by Adam Smith in The Wealth of Countries to represent…

Q: . For a particular commodity, the supply and demands functions are given by S(q) = 2q, D(q) =…

A: The equilibrium is established where the demand and supply are equal. The consumer surplus the gap…

Q: _______ of unemployment during ________ make it easier for workers to ________ wages. High levels; a…

A: When talking about unemployment and wage rate, it can be said that when labor demand exceeds labor…

Q: Which of the following statements is a characteristic of EX-Work a. The seller bears all risks and…

A: The characteristics of EX work is that the buyers takes the full responsibility of the shipment from…

Q: 2. Question 3. Derive the price elasticity for the following functions. Show your work. a. q-50-3p…

A: Price elasticity is a measurement of how a change in price or in the amount of a supply affects the…

Q: 1. Suppose a person's utility is equal to U = VY and the initial income is $80,000. Medical expenses…

A: Here we are given the uncertain scenario and consumer's hence consumer's income also depends on this…

Q: Net capital outflow measures how many capital goods are: Multiple Choice O imported from a country.…

A: In simple words Net Capital Outflow is equal to the Value of the foreign assets purchased by…

Q: The following table contains data for a hypothetical closed economy that uses the dollar as its…

A: Here we are given various components of aggregate demand (like consumption demand, investment demand…

Q: Answer the following considering the game represented in extensive form (game tree) above: i. Player…

A: The above provided game has two players - Player 1 & 2  Player 1 strategy set : {E ,X , L ,R }…

Q: What is the relationship among the AD, SRAS and LRAS curves when the economy is in macroeconomic…

A: AD is the aggregate demand  SRAS is the short run aggregate supply LRAS is the long run aggregate…

Q: A company intended to sell a high end refrigerator which included French doors, external water and…

A: Business liability insurance insures companies against losses they incur as part of their business…

Q: Consider each scenario independently. In each of the following cases tell me, using verbal and…

A: (g) The following diagram shows the tax on gun buyers. Initial Demand is D1 and supply is S1. Due to…