2
A market is covered if all consumers will choose to buy from at least one of the firms at the prevailing prices.
For example, consider a standard Hotelling model with two firms who are located at opposite ends of the unit interval. Suppose that each firm charges that same price $p$ and that consumers are uniformly located on $[0, 1]$. Finally, suppose that ...
Only top voted, non community-wiki answers of a minimum length are eligible
