Business, 24.06.2020 05:01 gunnatvinson

An article in Forbes described these characteristics of the airline industry: "Airlines aren't like normal consumer businesses... Infrastructure including aircraft, gates and runways takes years to put in place. Capacity rebalancing in response to demand shifts isn't easy and idle infrastructure of this magnitude is very expensive." Source: Kevin O'Marah, "The Lesson of the Delta Disaster: Flying Is Too Cheap," Forbes, August 11, 2016. Do the characteristics referred to in the article help to explain why the airline industry is an oligopoly? Briefly explain.

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