Two gas stations are located near each other and compete for customers. They both offer the same brand of gasoline. Guzzlin’ Gas is located a couple of blocks from the interstate, down a side street. Frankie’s Fast Fuel is on the interstate access road, directly following an exit ramp. What can you assume about market power

Suppose a ceiling fan manufacturer has the total cost function c(x) = 48x + 1485 and the total revenue function r(x) = 75x. (a) what is the equation of the profit function p(x) for this commodity? p(x) = (b) what is the profit on 35 units? p(35) = interpret your result. the total costs are less than the revenue. the total costs are more than the revenue. the total costs are exactly the same as the revenue. (c) how many fans must be sold to avoid losing money? fans

Your take on decision making process

Social computing forces companies to deal with customers as opposed to