In the required supplemental viewing of the TedEd video Why do competitors open their stores next to
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In the required supplemental viewing of the TedEd video "Why do competitors open their stores next to one another?" ... the narrator explains the difference between a "socially optimal solution" (SOS) and a Nash Equilibrium solution, based on the competing mobile ice-cream carts on the beach. From a retail customer's point of view: List and explain both the positives and negatives associated with a "Nash Equilibrium Solution". Use an example to make your case, such as: fast-food ("quick service") restaurants, or hotels, or gas-station/convenience stores, or cell-phone stores, etc.
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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