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Airfares of major airlines such as Qantas, Singapore Airlines or Cathay Pacific from Singapore to a popular destination such as Gold Coast, Australia are rather similar

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Airfares of major airlines such as Qantas, Singapore Airlines or Cathay Pacific from Singapore to a popular destination such as Gold Coast, Australia are rather similar.

a) Explain why this is so using the characteristics of relevant market structure.

b) Explain the similarities in the way above market structure compete and that bubble tea industry.

(Explain both part a and b in detail)

p.s. this is microeconomies module