« previous next »

Author Question: A gas station opened up on the highway in a patch where there are no gas stations close by. It is ... (Read 82 times)

a0266361136

  • Hero Member
  • *****
  • Posts: 538
on: Jul 1, 2018
A gas station opened up on the highway in a patch where there are no gas stations close by. It is more likely to be able to set higher prices because
 a. the demand for its product is more inelastic due to an unavailability of substitutes
  b. the demand for its product is more elastic due to an unavailability of substitutes
  c. the demand for its product is more inelastic due to an availability of substitutes
  d. the demand for its product is more elastic due to an availability of substitutes

Question 2

What is the Nash equilibrium of this game?
 a. Cheat, Cheat
 b. Not cheat, Not cheat
 c. Sam cheats, Sarah doesn't
  d. Sarah cheats, Sam doesn't


aburgess

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Transdermal patch. Transdermal patch.
Different ways that gated channels can be opened. Different ways that gated channels can be opened.
How stomatal pores open and close. How stomatal pores open and close.
Bonobos are close relatives of chimpanzees and of humans. Bonobos are close relatives of chimpanzees and of humans.
Atmospheric Gases Trapped in Ice at Vostok Station, Antarctica Atmospheric Gases Trapped in Ice at Vostok Station, Antarctica
Twenty percent of the automobiles inspected at a state inspection station required repairs to ... Twenty percent of the automobiles inspected at a state inspection station required repairs to ...
Video: Medullary osmotic gradient: countercurrent multiplier, urea recycling & vasa recta countercurrent exchange

For a complete list of videos, visit our video library