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Author Question: Gas stations can price the products that they sell in their convenience store a little bit higher ... (Read 125 times)

jace

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on: Jul 1, 2018
Gas stations can price the products that they sell in their convenience store a little bit higher because
 a. these products are usually complements to the gas sales and the demand for gas is inelastic
  b. these products are usually complements to the gas sales and the demand for gas is elastic
  c. these products are usually substitutes to the gas sales and the demand for gas is inelastic
  d. these products are usually substitutes to the gas sales and the demand for gas is elastic

Question 2

The equilibrium of this game indicates
 a. Self-interest can sometimes lead to sub-optimal outcomes
  b. Rationality can sometimes lead to inefficient outcomes
  c. All of the above
 d. None of the above


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raenoj

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

c


jace

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

shailee

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Reply 3 on: Yesterday
:D TYSM

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