Is this an equilibrium situation

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Students at Java U have the option of purchasing coffee either at Joe’s stand or Moe’s stand. The stands are located only 10 feet from each other, the coffee is equivalent, the wait time is always the same, and the service is identical. Suppose the price for a cup of coffee is $1.50 at Joe’s and $2.00 at Moe’s. Is this an equilibrium situation? Explain.

Reference no: EM131172256

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