May 13, 2021
4:40:42pm
4:40:42pm
The Market includes rival gas station owners that would recognize an opportunity to sell more gas at $9.50 in $10 market
The $10 sellers would quickly counter and the price would plummet.
When a short-term shortage pops up, all the gas stations respond by hiking prices by 20-30 cents and see how long they can get away with it. Any of them that bumped to $10 would lose their entire market share.
When a short-term shortage pops up, all the gas stations respond by hiking prices by 20-30 cents and see how long they can get away with it. Any of them that bumped to $10 would lose their entire market share.
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- ColoSpgs
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