Answer the following question. show the work.1.two gas station stand on opposite sides of the road: rutter's farm store and sheetz gas station. rutter's doesn't even have to look across the highway to know when sheetz changes its price for a gallon of gas. when sheetz raises the price, rutter's pumps are busy. when sheetz lowers prices, there's not a car in sight. both gas stations survive but each has no control over the priceq: in what type of market do these gas stations operate? explain. q: what determines the price of gasoline and the marginal revenue from gasoline? q: describe the elasticity of demand that each of these gas stations faces/q: why does each of these gas stations have so little control over the price of the gasoline they sell?
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Answer the following question. show the work.1.two gas station stand on opposite sides of the road:...
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