SophiaPretty

(5)

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About SophiaPretty

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Economics,Engineering,English,Environmental science,Essay writing Hide all
Teaching Since: Jul 2017
Last Sign in: 304 Weeks Ago, 6 Days Ago
Questions Answered: 15833
Tutorials Posted: 15827

Education

  • MBA,PHD, Juris Doctor
    Strayer,Devery,Harvard University
    Mar-1995 - Mar-2002

Experience

  • Manager Planning
    WalMart
    Mar-2001 - Feb-2009

Category > Business & Finance Posted 02 Sep 2017 My Price 6.00

I am sure you have noticed that several gas stations

  • I am sure you have noticed that several gas stations are often found next to or very close to each other at highway intersections. They also often have same or similar prices. If one gas station tries to increase its price from the prevailing $2.89 to $3.09, customers will go across the street and the gas station will lose revenues. If the same gas station lowers is price to $2.69, it will attract new customers only until the other also drop their prices. What graph can be used to explain this behavior and why do gas stations behave this way?

Answers

SophiaPretty
(5)
Status NEW Posted 02 Sep 2017 08:09 AM My Price 6.00

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