Why did the ban effect the price

Assignment Help Business Economics
Reference no: EM13151203

Although 23 states barred the self-service sale of gasoline in 1968, most removed the bans by the mid-1970s. By 1992, self-service outlets sold nearly 80% of all US gas, and only New Jersey and Oregon continued to ban self-service sales. Using predictive value for self-service sales for New Jersey and Oregon Johnson and Romeo (2000) estimate that the ban in those two states raised the price by approximately $.03-$.05 per gallon. Why did the ban effect the price? Illustrate using a figure and explain. Show the welfare effects in your figure. Use a table to show who gains or loses.

Reference no: EM13151203

Questions Cloud

Explain nitrogenase contains an iron-sulfur cluster : Extraction procedures have shown that nitrogenase contains an iron-sulfur cluster, Fe4S4, where the atoms of each type are arranged alternatively at the corners of a cube.
Find the probability that sample mean is more than a value : Assume that the standard deviation of monthly rents paid by students in a particular town is $40. A random sample of 100 students was taken to estimate the mean monthly rent paid by the whole student population. What is the probability that the sam..
Will actions by congress expand or contract the economy : In order to pay for those expenditures, Congress also approved a $100 billion increase in individual income taxes. Will these actions by Congress expand or contract the economy or are they just useless actions?
What was the pressure of the hydrogen gas : Hydrogen gas was collected over water in a eudiometer at 25 C when the atmospheric pressure was 752 mm Hg. What was the pressure of the hydrogen gas?
Why did the ban effect the price : Why did the ban effect the price? Illustrate using a figure and explain. Show the welfare effects in your figure. Use a table to show who gains or loses.
Make a linear graph : The linear form (y=mx+b) of the Arrhenius equation is given below : ln K = -Ea/RT + Ln A 1) In order to find the activation energy (Ea) you will need to make a linear graph
Cost of borrowing : a. Calculate the after-tax cost of debt, assuming the debt remains outstanding until maturity. b. Calculate the after-tax cost of debt, assuming investors put the bond back to the firm at the end of the fifth year.
How many total and different genotypes are expected : Under what conditions does one observe a 9:3:3:1 ratio? A 1:1:1:1 ratio? Which laws proposed by Mendel are supported by these ratios? Why? Consider a trihybrid self cross AaBbCc X AaBbCc.
Proportion honda insights-automatic transmission over mpg : Assume the gasoline mileage of this mileage is approximately normally distributed with a standard deviation of 3.2 miles per gallon. What proportion of 2005 Honda Insights with automatic transmission gets over 60 mpg on the highway?

Reviews

Write a Review

Business Economics Questions & Answers

  What happen if marginal product of labor minimizing cost

What happen if the marginal product of labor is 23, is the firm minimizing cost. What happen if the marginal product of labor is 21, is the firm minimizing cost.

  Social optimum quantity and price

If the government uses a tax to get producers to internalize their externality, what is the net price received by producers.

  Manufacturer of each product

Describe what a manufacturer of each product might do in the short run to increase production.

  What echnopolies are willing to pay

Supposre that there are equal numbers of each customer type, and that the MC of the iphone is $100."

  Food from the united states

The developing country uses the $100 bank balance to import $100 worth of food from the United States (US).

  New textbook sales fall in the yrs subsequent

Elucidate why would new textbook sales fall in the yrs subsequent the release of the latest edition.

  Explain the large difference in income

What must it be? Can you think of any way of justifying such a value for this parameter? How else might you explain the large difference in income between Richland and Poorland?

  Effects of mandatory seat belt laws

Illustrate we know about the effects of mandatory seat belt laws, which of the following groups would be most likely to mount a campaign to repeal those laws.

  Computing expected return

Assume stock returns can be explained through the following three factor model:

  Elucidate how would you price these two events differently

Demand for sporting events is uncertain, and depends on the quality of the match, as well as on unpredictable events, like the weather. Elucidate how would you price these two events differently.

  Join a specialty group of physicians

Determine if you should go into your own solo private practice or to join a specialty group of physicians.

  Other types of variables

Elucidate what other types of variables should be considered when determining what is reasonable in terms of maintenance expense.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd