Before the late 1990s, people bought air tickets from a travel agent. When airline deregulation in the
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Before the late 1990s, people bought air tickets from a travel agent. When airline deregulation in the late 1970s led U.S. air travel to more than triple between 1975 and 2000, the number of travel agents grew from 45,000 to 124,000. In the late 1990s, Internet travel sites such as Travelocity, Expedia, Priceline, and Orbitz entered the market. As a result, travel agents began to disappear. Of those travel agents working in 2000, 10% left in 2001, another 6% in 2002, and 43% by 2010 (Waldfogel, 2012). Use figures to explain what happened in the market for travel agents.
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Microeconomics Theory And Applications With Calculus
ISBN: 978-0134167381
4th Edition
Authors: Jeffrey M. Perloff
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