In particular, what cost and market considerations may have been important in driving the patterns described in the article?
For all parts, clearly state all your assumptions and use well labelled diagrams to illustrate your discussion. Discussions not using economic model/theory will earn low marks.
Background perspective
You are required to analyse the behaviour of firms (and the industry overall) discussed in the article
(‘‘Shipping Industry Fights for Survival’’) by Costas Paris. This article should represent a s
tarting point from which your analysis begins. You should undertake some research and apply appropriate economic concepts to explain the behaviour and patterns described in the article.
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