Question1. Hypothesis the basic short-run and long-run behaviours of the airline industry in the market economy.
Question2. Analyze at least 3 probable areas for the industry that could lead to transaction costs, explaining each in detail.
Question3. Speculate about the behaviour that could result from these transactions and propose 2 or more strategies to deal with them.
Question4. Collect cost, revenue data or other relevant data from the industry and explain how you would modify the data to make it relevant to decisions a manager must make.