Key Concepts: Monopolistic Competition, Oligopoly and Interdependence, Summary of Market Structures and the Information Assumption

GasPriceWatch.com - Survey of Gas Prices
http://www.gaspricewatch.com/USGas_ZipSearch.asp

Enter the relevant Zip code (e.g. home) and select "1, 5 & 10 miles" for the Radius search area. Run the search program and compare the listed gas prices.

• Why are gas stations located close to each other tend to sell gasoline at similar prices?
• Explain why lowering the gasoline price may not be the "dominant strategy" for gas stations that are located close to each other.
• Reviewed the list of "completed" (left column) Federal Communications Commission (FCC) auctions at http://www.fcc.gov/wtb/auctions/ Explain how businesses may play "sequential games" when participating in the FCC auctions.