Explain graphically what happened in market due to recession


The airline market was deeply impacted by the recession of 2008 and by the following slow recovery. Describe graphically what happened in the market due to the recession and to the slow recovery and briefly describe the graph. What can we infer about the characteristics of the demand for flights given that this market was so significantly affected by variations in customers' income?

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Microeconomics: Explain graphically what happened in market due to recession
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