<\/p>\n
\nYou operate a delivery service in your local area, but you are thinking of expanding to another market. You’re concerned that you might need to set different prices in the new market because the cost of gas might be much different.
\n1. Identify 10 gas stations in your local area (Houston, Texas)
\n2. Record the price per gallon for each gas station. (Use the following link to have access to the local prices)
\nhttp:\/\/www.houstongasprices.com\/
\n3. Research supply and demand curves for gasoline.
\n4. Create an Excel\u00ae spreadsheet in which you do the following:
\nCreate a supply curve for gasoline.
\nCreate a demand curve for gasoline.
\nCalculate the average cost of gas in your local area.
\nCalculate the standard deviation.
\n5. Determine whether the prices in your local area are higher or lower than the national average.
\n6. Create a 700-word proposal in which you include the following:
\nExplain elasticity of supply and demand and how this relates to your pricing decision.
\nDetermine if your prices will be higher, lower, or the same for the new location.
\nDefend the pricing decision including all supporting documentation.
\nUse APA format
\nCite a minimum of two scholarly references not including your text. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
You operate a delivery service in your local area, but you are thinking of expanding to another market. You’re concerned that you might need to set different prices in the new market because the cost of gas might be much different. 1. Identify 10 gas stations in your local area (Houston, Texas) 2. Record the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/179839"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=179839"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/179839\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=179839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=179839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=179839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}