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London Davila
Mathematics
17 July, 10:54
Your local gas stations are having a price war
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Jeremiah Whitney
17 July, 11:10
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Ok, not quite sure what you want, but this is kinda what I think you need.
Lets say you have a Chevron gas station, and a Shell Gas Station.
Chevron's prices are 1.99
Shell's prices is 2.05
Shell decides to drop to 1.90
Chevron takes a roll of the dice and takes the 2.05 spot. They get no customers, everyone flocks to Shell. So, angrily, Chevron drops to 1.85.
Shell takes 1.80.
Chevron takes a hold on 1.75. The prices stop dropping. They can't go any lower. Riskily, Shell decides to start climbing back up. 1.80. Chevron boots it to 1.85. Chevron goes to 1.90. Shell debates it. If he climbs up, maybe Chevron WON'T come up, and Shell will be without customers. If he stays here, he won't get as much money as Chevron, but more people might come.
See, thats an example of a price war. If there was only ONE gas station, say Chevron, then Chevron could rule the charts. go 2.05, 1.90, 2.25 or whatever he wants, because he's the only gas running this town.
Make Sense? Got a question? Need More details? Message me!
From One Smartie to Another - BubbleSmartie11
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