| Economics Question? The autonomy and freedom of individuals and businesses is prized highly in the United States as demonstrated by our great reliance on the “free” market system to solve society’s economic problems. Yet earlier this week, Robert Crandall, former CEO of American Airlines, called for tighter regulation of and restrictions on the scheduling of airline flights and for stricter Federal enforcement of safety rules. Explain why or why not the market can be expected to achieve the proper MB = MC balance on these issues.
please use supply/demand curve to explain |