Changes

Jump to navigation Jump to search

Economics Model Answers Twelve - 2013 (view source)

Revision as of 01:27, June 7, 2013

305 bytes added ,  01:27, June 7, 2013
→‎Honors: added another model answer
Line 70: Line 70:     
:They sell at MR=MC.  If one firm were to sell higher, than the other firm would boost its profits by reducing its price to where MR=MC.
 
:They sell at MR=MC.  If one firm were to sell higher, than the other firm would boost its profits by reducing its price to where MR=MC.
 +
 +
:"The outcome would be when MR = MC. One gas station could lower its original price to get more business, but then the second station would lower its price as well so it doesn’t lose business. This would continue until both gas stations lower their prices to where cost equals price."  (by student CM)
    
[[Category:Economics lectures]]
 
[[Category:Economics lectures]]
Aschlafly
Anthony, Irenaeus, Siteadmin, apieditor, Bureaucrats, Check users, nsAm_Govt_101RO, nsAm_Govt_101RW, nsAm_Govt_101_ta, nsJudgesRO, nsJudgesRW, nsJudges_talkRO, nsJudges_talkRW, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, oversight, Administrators
126,215

edits

Retrieved from "https://www.conservapedia.com/Special:MobileDiff/1055019"

Navigation menu