consider 2 gas stations in a remote village facing a simple linear markit demand Q=300-5P, but have different marginal costs of production, both constant, such that MCx=20 and MCy=10. 1. Measuring the...


consider 2 gas stations in a remote village facing a simple linear markit demand Q=300-5P, but have different marginal costs of production, both constant, such that MCx=20 and MCy=10.


1. Measuring the quantities Qx on the horizontal axis and the quantities Qy on the vertical axis, draw the reaction curves for each of the gas stations.



Jun 10, 2022
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