Question 18 relies on the following information: Vendors A and B sell a homogenous good and simultaneously select where to locate on the boardwalk pictured below, with a number of customers in each location equal to the number in that cell. Customers purchase from whichever vendor is closest, and equidistant customers are split evenly. Location 2 Location 3 Location 4 Location 5 Location 7 Location 1 20 Location 6 10 20 2 20 10 20 In which location will Vendor A locate in equilibrium?

Question 18 relies on the following information: Vendors A and B sell a homogenous good and simultaneously select where to locate on the boardwalk pictured below, with a number of customers in each location equal to the number in that cell. Customers purchase from whichever vendor is closest, and equidistant customers are split evenly. Location 2 Location 3 Location 4 Location 5 Location 7 Location 1 20 Location 6 10 20 2 20 10 20 In which location will Vendor A locate in equilibrium?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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