kameronmcneill2 kameronmcneill2
  • 20-06-2017
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Which statement most accurately explains the effect of competition among local gas stations on the price of gasoline?

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brainaddict brainaddict
  • 20-06-2017
No, but there are many variables that affect the price of gasoline. The abundance of gasoline to the supply is one variable, and also the location of the gas station and competion play a role. Well established brands may demand a premium at the pump. 

Frequently with all these variables at work, the sensitivity of prices to supply may be difficult to identify.
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