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There are many means of transport for someone looking to travel from Houston to Los Angeles,...

There are many means of transport for someone looking to travel from Houston to Los Angeles, and many different transportation providers (e.g. various airlines, buses, Amtrak, etc.), so the market for this travel route is competitive. However, why is the competitive equilibrium quantity of travel likely to be too high relative to the efficient quantity? Please answer the question clearly and thoroughly, making use of the relevant economic concepts

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Rahul Sunny answered 1 year ago
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