The Jakarta Post - Coordinating Maritime Affairs Minister Luhut Pandjaitan said he wants to push for the emergence of a new player in the jet fuel or avtur business in an effort to lower airfares. The market is currently dominated by state-owned energy company Pertamina. Previously, President Joko Widodo criticized Pertamina for “monopolizing” the avtur business that was blamed for the high price of the commodity. “Because of a monopolistic market, the price isn’t competitive. Many want to sell avtur, and it will lead to lower prices and encourage efficiency.” Jokowi said. Do you agree with the statements? ? Use a relevant graph to help explain your answer. (Hint: Use graphical analysis to compare the condition under perfect competition and monopoly markets in your answer)

The Jakarta Post - Coordinating Maritime Affairs Minister Luhut Pandjaitan said he wants to push for the emergence of a new player in the jet fuel or avtur business in an effort to lower airfares. The market is currently dominated by state-owned energy company Pertamina. Previously, President Joko Widodo criticized Pertamina for “monopolizing” the avtur business that was blamed for the high price of the commodity. “Because of a monopolistic market, the price isn’t competitive. Many want to sell avtur, and it will lead to lower prices and encourage efficiency.” Jokowi said. Do you agree with the statements? ? Use a relevant graph to help explain your answer. (Hint: Use graphical analysis to compare the condition under perfect competition and monopoly markets in your answer)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter13: best-practice Tactics: Game Theory

Section: Chapter Questions

Problem 1E

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