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Suppose that consumers are uniformly distributed along a one-mile stretch of beach (as in Hotelling, 1929). There are two ice cream vendors pondering where to
Suppose that consumers are uniformly distributed along a one-mile stretch of beach (as in Hotelling, 1929). There are two ice cream vendors pondering where to position their carts. Travel costs of walking z miles are given by z2. The marginal cost of each ice cream is c = 1
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