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A small island economy has a single state-run airport which is served by a single state-run airline. Use an appropriate diagram to analyse the effects

A small island economy has a single state-run airport which is served by a single state-run airline. Use an appropriate diagram to analyse the effects on the market equilibrium price and quantity traded for air travel following the privatisation of the island's airport resulting in large increases in the cost of consumers of parking at the airport and using its services.

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