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Airline travels (good X) and driving interstates (good Y) are known to be substitute goods.
suppose that a leading airline offers a steep discount on all routes. In the context of the market quantity supplied and quantity demanded diagram, what will happen to both markets, in terms of Q's, P's and equilibria? Please explain in detail of market adjustment in both markets.

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M9481070

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