Question: 2. At a busy intersection, there are four gas stations - one on each corner. Each of the gas stations always charges the same price

2. At a busy intersection, there are four gas stations - one on each corner. Each of the gas stations always charges the same price as the others {that price goes up and down as changes in supply and demand warrant, but each station always charges the same price as the others charge}. Does this sameness in pricing indicate that the gas stations have formed a ca rtel. or is there some other more likely explanation for why all of these gas stations charge the same price? Explain your
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
