Question: Please explain the following questions comprehensively by providing concepts, examples ,and explanations :) a. PRICE ELASTICITY OF DEMAND AND SUPPLY FOR DOMESTIC AIRLINES IN THE

Please explain the following questions comprehensively by providing concepts, examples ,and explanations :)

a. PRICE ELASTICITY OF DEMAND AND SUPPLY FOR DOMESTIC AIRLINES IN THE PHILIPPINES BEFORE AND AFTER THE PANDEMIC

Describe the price elasticity of demand and supply for the good/service and identify factors that could affect changes in elasticity in the long run.

b. MARKET STRUCTURE OF DOMESTIC AIRLINES IN THE PHILIPPINES

Explain the market structure for the good/service in the Philippines: perfectly competitive, monopolistic competition, oligopolistic, or monopoly.

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