In which area would you have more competition

Reference no: EM132307736

Question: Imagine that you are a policy maker in a geographic area that has both an urban area and a remote rural area. Would you expect demand in the rural area to be more or less elastic than in an urban area? In which area would you have more competition? How do the two areas likely differ in terms of prices, consumer and producer surplus, and deadweight loss?

Reference no: EM132307736

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