Price of gasoline over the past few years

Reference no: EM13775502

How have you responded to increases in the price of gasoline over the past few years? How would you respond if the price of gasoline doubled over the next two years?

What alternatives do you have for buying gasoline? Could you change to zero consumption of gasoline in the short run? In the long run?

In the short run, when the price of gasoline increases, what happens to the income you have to spend on other goods?

Try to use concepts seen in this unit such as budget constraint, income and substitution effects, etc. in your answer.

Reference no: EM13775502

Questions Cloud

Healthcare professional to lose a license : To prepare for this module's discussion, conduct some independent research on the difference between licensure and certification and the legal implications of each.

Explain the legal principles that apply to this case : Ewing was a medical student at the University of Michigan. When he failed a qualifying examination, he asked for a chance to retake it. Explain the legal principles that apply to this case and its likely outcome

Transformative leadership in the human services : Complete Part II of Stories of Transformative Leadership in the Human Services. Write a 1,050- to 1,400-word paper that addresses the following:

Determine the heat of combustion of mg : Determine the heat of combustion of Mg as described by the reaction: Mg(s) + 1/2O2(g) → MgO(s).

Price of gasoline over the past few years : How have you responded to increases in the price of gasoline over the past few years? How would you respond if the price of gasoline doubled over the next two years?

About ethnography and phenomenology : Ethnography and phenomenology both have roots in grounded theory. What aspects of the data collection and analysis procedures might prompt psychological researchers to act as Frost (2011) suggests and discount ethnography as a research approach? W..

Describe the challenges in personal time management : Describe the challenges you have faced during your internship regarding personal time management. What has come most easily? What aspects have you found most difficult to overcome, and what approaches are you applying?

Healthcare is cost containment issue : What should be the patients' responsibility in contributing to the cost?

Four mistaken goals of behavior : Name 5 suggestions for giving clear firm messages.

User Account

All Pages