Perfect Competition

Topics: Petroleum, Gasoline, Benchmark Pages: 3 (510 words) Published: April 1, 2013
Runninghead: Perfect Competition

Gasoline Market: Price and Quality

Nathalar Washington

Argosy University

October 2, 2011

Paul Tovbin

The choices of gas stations that I have to choose from in my local area are QT, Shell, and Chevron. I personally liked Chevron for the techron that cleans your engine. But my husband started using QT gas when we moved into this neighbor because there are no Chevron’s close around. This QT is right down the street from my house and because we have to pass it to go to work, it is a good location for us. This gas station is a very busy place from Monday thru Sunday. Sometimes it’s so busy they run out of gas before the next scheduled visit. And sometimes it’s hard to get a pump.

The price differences between them are not much-QuikTrip right now is running about $3.18 a gallon (for the regular), Shell is running about $3.26, and Chevron $3.24. But we like using the same one over and over and not switching (because of price changes) from one to the other. If you are going to pay for a better quality of product, then you will be paying more for it. Chevron and Shell are just two of the top names in the gasoline industry and they are more expensive than QuikTrip. The factors the account for differences is again price but also quality. Right now people are going where they can get more for their money, but some are staying with what they think is a better quality and they don’t mind paying for it.

The type of market structure that I think applies to the local gasoline market (QuikTrip) near my house is an Oligopoly: (This word came from the Greek and it means-few sellers) Which involves only a few sellers of a standardized or differentiated product, so each firm is affected by the decisions of its rivals and must take those decisions into account in determining its own price and output (McConnell, 2010). Because the decision of each seller...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Perfect Competition
  • Supply and Demand and Perfect Competition Essay
  • Economics and Perfect Competition Essay
  • Monopoly Vs Perfect Competition Essay
  • Perfect Competition in Lead Mining Industry Essay
  • Perfect Competition Market
  • Essay about Pricing And Output Under Pure Competition
  • Monopolistic Competition Essay

Become a StudyMode Member

Sign Up - It's Free
Adatlap 2000 We got married 311 ember kérte. 2008 Született médium 297 ember kérte. 2011 A Vadmacska új élete 290 ember kérte. Adatlap 2005 Híresek és gazdagok 283 ember kérte. Adatlap 1997 Berlin, Berlin 255 ember kérte. Adatlap 2002 Álomsuli 245 ember kérte. Adatlap 1997 Moon_Lovers_Scarlet_Heart_Ryeo 223 ember kérte. 2016 Lucecita 193 ember kérte. Adatlap 1999 Motoros zsaruk 186 ember kérte. Adatlap 2000 Shopping King Louie (koreai sorozat) 183 ember kérte. 2016 Titánok 181 ember kérte. Adatlap 2000 Mentőhelikopter 176 ember kérte. Adatlap 1997 Hajrá skacok! 174 ember kérte. Adatlap 2002 What Happens to My Family? 174 ember kérte. 2014 Jang Bo Ri Is Here 172 ember kérte. 2014 Vampire's Flower 172 ember kérte. 2014 Salome 165 ember kérte. Adatlap 2001 Nana 160 ember kérte. 1981 Egy kórház magánélete 158 ember kérte. Adatlap 1982 Mondj igent a ruhára- A koszorúslányok 1.-2.-3 és a 4.évad 154 ember kérte. 0 Baleseti helyszínelők 150 ember kérte. 2005 W-Two Worlds 149 ember kérte. 0 Kung Fu (1972–1975) 144 ember kérte. 1972 Tarzan 1991 144 ember kérte. 1991 Esküvői tortacsodák 136 ember kérte. 2008 I Married an Anti-Fan (2016) 132 ember kérte. 0 Zoey 101 127 ember kérte. Adatlap 2005 Camila 119 ember kérte. Adatlap 1998 Kamisama hajimemashita 117 ember kérte. 2012 Yuan lai shi mei nan 115 ember kérte. Adatlap 2013 Sweet Valley gimi 114 ember kérte. 1994 Boys Over Flowers 112 ember kérte. 2009 Jealousy incarnate 109 ember kérte. 2016 Celeste 105 ember kérte. 1991 Beépített főnök - Ausztrália 105 ember kérte. 2010 A korona ékköve 105 ember kérte. 1984 Hawaii üzenetek 104 ember kérte. Adatlap 1995 Mint a filmekben 102 ember kérte. Adatlap 2001 Katts és kutyája 101 ember kérte. 1988 Fekete Skorpió 100 ember kérte. Adatlap 2001 Az ügyosztály 99 ember kérte. Adatlap 2001 You yi ge di fang zhi you wo men zhi dao 80 ember kérte. 2015 Another Oh Hae Young (Another Miss Oh) 78 ember kérte. 2016 | 12.12 2TV 생생정보.E908.181211.720p NEXT.mp4 | Watch movie