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Essay / Research Paper Abstract
This paper attempts to examine the macroeconomics of the airline industry, taking into account how each leg of the industry can impact passengers and economics. Discussions include the economic viability of the hub-and-spoke system, as well as the impact of unionized employees and rising energy costs on ticket prices. Bibliography lists 4 sources.
Page Count:
6 pages (~225 words per page)
File: D0_MTecoair.rtf
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Unformatted sample text from the term paper:
a whole, with industries linking to one another, and one factor effecting a whole multitude of others. But the airline industry isnt
a typical case study for an economics problem. From the start, its been a unique industry that isnt so much subject to consumer demand as it is to the prices
that it charges for tickets. Unlike other industries, airline ticket prices can determine demand. Incidentally, the airline industry is the only one
that will gladly book you on a competing airline in the event of mechanical failure or bad weather - this isnt something that is typical in the marketplace, particularly one
as competitive as air carriers. In addition, airlines are outside the economic norms in that its the one area in which people
pay varying prices for the exact same service (although the amenities might change). For example, the family on an airplane that is flying coach thanks to cheap airfares from Priceline.com
could be seated next to a businessman who paid hundreds of dollars for the seat. Same airplane, same destination and same row of seats - yet the parties paid two
different prices for it. Then there is the difference between First Class and Coach - for thousands of dollars more, a select group of passengers will be seated in wider
seats and have access to gourmet meals. But in the end analysis, they end up on the same landing field as their counterparts in Coach. In short, trying to apply
typical and basic economic theories to the air carriers is nothing short of difficult. The purpose of this paper will be
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