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The table shows the demand schedule for gallons of gasoline sold by two gas stations, ABC and XYZ, in a small town. Price Quantity 10
The table shows the demand schedule for gallons of gasoline sold by two gas stations, ABC and XYZ, in a small town. Price Quantity 10 0 9 50 8 100 7 150 6 200 5 250 4 300 3 350 2 400 1 450 Assume that the marginal cost of selling the gasoline is zero. If the two gas stations are maximizing industry profit and splitting the profit evenly, each gas station will sell _____ gallons
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Macroeconomics Principles And Policy
Authors: William J. Baumol, Alan S. Blinder
11th Edition
0324586213, 978-0324586213
