This scenario has 4 parts. Please explain all four parts in detail to receive points for your initial post.A simple yes/no will not earn you any points. Each part should have an adequate explanation and work shown to earn points. For parts c and d, explain your analysis using the golden rule of profit maximization(the marginal method) and short run/long run operational conditions you have learned in this topic.

Think of an economy airline travel between Denver to Houston. Are there competing airlines providing the same service? Do you think the market for airline travel is perfectly competitive?

a) Please explain your reasoning using the characteristics of the perfect competition; does the airline travel market fit the characteristics of a perfectly competitive market? If it does not fit the perfectly competitive market structure, can you identify which other market structure the airline travel market might fit? Explain.

b) Find an article (a journal article, a newspaper article, a web-based research article, an industry market survey/report, etc.)that supports your analysisof the market structure of the domestic airline market and share it with us.Explain how your chosen reference supports your analysis of the domestic airline market?It is okay to provide the title of your supporting material and the link for us to view it. Youdo nothave to cite your sources formally. You may use nonacademic sources, but your sources should be reliable - and should not be personal blogs, op-eds, and Wikipedia articles.

See thetable below- Use the information in the table below to answerparts c and d.

A firm producing Ball-Bearings in a competitive market faces the following cost structure:

Quantity (cases of ball bearings)	Total Fixed Cost ($)	Total Variable Cost ($)	Total Cost ($)	Total Revenue ($)
0	100	0	100	0
1	100	50	150	50
2	100	70	170	100
3	100	100	200	150
4	100	140	240	200
5	100	200	300	250
6	100	360	460	300

c) The price of a single case of ball bearings is $50. What is the profit-maximizing level of output? UseMarginal Analysis-create the columns forprofit, marginal revenue, marginal cost.

d) Seeing that he can't make a profit, the CEO decides to shut down operations in the short run. Was this a wise decision? UseMarginal Analysisandshut down conditions.Create columns for theaverage variable costand theaverage total costto help you answer this question.