Project #72456 - Principles of Microeconomics (1 Homework Problem)

Grading Rubric for Application Assignments (5 pts): 

  •  Answer is well developed and completely addresses all aspects of the assignment using fully developed and appropriate concepts. (2pts)
  • Answer is factually correct and reflective. (1pt)
  • Answer uses specific references to literature, readings, or personal experience to support comments. (1pt)
  • Answer complies with specified length(300 word minimum); concise comments; formatted in an easy to read style that is free of grammatical or spelling errors. (1pt)

QUESTION:

Aloha Airlines provided air services between the Hawaiian Islands and controlled the largest share of this market for much of its existence.  However on March 30, 2008, the airline announced that it would suspend all flights and cease operation the next day.  The company cited high fuel prices as one of the primary reasons for their closure.

Assuming the company had previously been earning monopoly profits (as illustrated in the graph below), explain and illustrate why an increase in the price of jet fuel led to the closing of Aloha Airlines. 

Subject Business
Due By (Pacific Time) 06/04/2015 03:00 pm
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