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2. With the events of COVID-19, there is a possibility that Virgin Australia may fold. Assuming this market share will be taken up by QANTAS,

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2. With the events of COVID-19, there is a possibility that Virgin Australia may fold. Assuming this market share will be taken up by QANTAS, calculate the new HHI for the industry. What do you think will happen to air ticket prices? Explain and justify with relevant economic concepts

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