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Major Assignment The articles I have collected examine the competition between Qantas and Ansett Australia to obtain part ownership of the now defunct Impulse airlines These articles can be directly linked to the topic of competition and resource allocation to firms THEORY That an oligopolistic market occurs in the Australian airlines market INTRODUCIOTN In order for Qantas to take such a stranglehold on the market they will sufficiently increase the supply and range of their services to cut Ansett out of competition All other domestic airlines will be taking a similar approach collusive agreement to put more pressure on Ansett The days of a duopoly market between Qantas and Ansett are well and truly dead now and many economic factors show good reasoning for this The word competition is defined as A contest for command over scarce resources This very definition is the basis of the essay discussion PUREIMPERFECT COMPETITION Scarce resources and unlimited wants form the foundation of economic science The efficient management of scarce resources is a major goal of the economic system Both Qantas and Ansett Australia are battling to obtain the resources of Impulse to help fulfil the unlimited wants of demand The idea of pure competition is one market model we can use to show how real life competition affects firms The graph to the left shows a purely competitive market situation The airline market is considered an oligopoly as only a few firms dominate it Qantas and Ansett Australia in this case are the Big Two of the market and hence create great competition for one another Competition in an oligopoly market creates a slight variation in the demandsupply model This model shows how the demand curve is affected when competition is pitted against a firm This form of imperfect competition is what is occurring currently between airlines in AustraliaNew Zealand Qantas and Virgin Blue airlines are both increasing their asset levels
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