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Essay / Research Paper Abstract
This 10 page paper considers the different influences on the airline industry which will impact on the way the pricing takes place by influencing either supply and/or demand factors. Various issues are considered, looking at influences that are present in 2010, considering the way these influences are having an impact on the airline industry. The price movements are explained in terms of the supply demand equation. The bibliography cites 6 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEinfairline.rtf
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Unformatted sample text from the term paper:
elasticity of demand. The elasticity of a product will be important, and many influences will have an impact in the supply and demand and the way that this elasticity may
manifest. The influences may impact on the passengers, on the airlines or on both. To assess this we can look at these influences starting with the aspect of elasticity and
the concept of supply and demand, and then look at factors that may impact on that supply and demand, directly, or as indirectly through prices.
When looking at the influences there are two main components to the study of price theory; these are demand side economics and supply side economics. The
way in which supply and demand meet can be seen as the determinates of price and the equilibrium that may be reached in any market. Demand theory explains why and
how consumers will spend money, seeking to maximize their utility (Baye, 20007). On the supply side, we have aspects such as market structure and theories of the way that firm
behavior included. The variants of supply and demand will always be in state of flux, with both the supply of the product
varying, and the amount of demand also fluctuating due to other related factors. If we chart this we can illustrate the willingness of customers to buy and the eagerness of
suppliers to supply a market as two separate lines on a graph. The price will be determined where these lines cross (See fig 1). Fig 1. Supply and Demand
Graph As we can see, as the price decreases there is a higher demand in the quantity from the buyers. However, for the supplier the converse is true regarding
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