The Elasticity of Demand for Gasoline Case Solution
To show the principle of elasticity by revealing that elasticity of need can be approximated utilizing information and regression evaluations. Trainees utilize the information and integrated regression features in Excel (file readily available on demand) to approximate elasticity of need for gas.
This workout utilizes regular monthly information for the United States from 1978-2013 to approximate a demand feature for gasoline in the United States. The need function is utilized to determine the rate and earnings elasticity of demand. Consequently, it demonstrates how to approximate flexibilities in the brief and the long term.
published: 21 Aug 2015
This is just an excerpt. This case is about Economics
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