You operate a delivery service in your local area, but you are thinking of expanding to another market, Excel spreadsheet and Proposal help

Anonymous
timer Asked: May 31st, 2016
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Question Description

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. 

Identify 10 gas stations in your local area. ( my local area San Francisco California)

Record the price per gallon for each gas station.

Research supply and demand curves for gasoline.

Create an Excel® spreadsheet in which you do the following:

  • Create a supply curve for gasoline.
  • Create a demand curve for gasoline.
  • Calculate the average cost of gas in your local area.
  • Calculate the standard deviation.

Determine whether the prices in your local area are higher or lower than the national average. (local area is San Francisco California)

Create a 700-word proposal in which you include the following:

  • Explain elasticity of supply and demand and how this relates to your pricing decision.
  • Determine if your prices will be higher, lower, or the same for the new location.
  • Defend the pricing decision including all supporting documentation.

Cite a minimum of two scholarly references not including your text.

Click the Assignment Files tab to submit your assignment.

Request instructor assistance if you have questions concerning supply and demand curves and elasticities.


Tutor Answer

SIMPLIFIED
School: Rice University

company
Arco fell street
1st street 76
Shell Guerero
Chevron Lombart
Arco Mill Valley
3rd street 76
Chevron Greary
Arco Redwood Highway
Shell Alamany Blvd
Powell 76

price
$3.10
$3.50
$3.70
$3.20
$3.00
$3.00
$3.20
$2.90
$3.16
$3.10

qty demande
100
90
80
70
60
50
40
30
20
10

qty supplied
10
20
30
40
50
60
70
80
90
100

Demand and Su
120

100

$4.00
$3.50

80 $3.00
$2.50

Average
Standard deviation

$3.19
0.24

55
30.28

55
30.28

Price

60

$2.00

40 $1.50
$1.00
20
$0.50
0 $0.00
0
$0.00 $0.50

Demand and Supply Curves of Premium
Gasoline(San Fransisco)

Series1
Series2
Demand Curve
Supply Curve

$0.50

20
$1.00

40
$1.50

60
80
$2.00
$2.50
Quantity

100 $3.50
120 $4.00
$3.00



ECONOMICS

1

Gasoline Proposal
Name
Instructor
Institutional Affiliation
Date

ECONOMICS


2

Explain elasticity of supply and demand and how this relates to your pricing decision.

The fluctuations of business prices have direct and indirect effect on demand and supply on
goods and services that consumers are in need of; this then creates a relationship between price
and demand as well as with supply. Elasticity of demand can therefore...

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Review

Anonymous
Good stuff. Would use again.

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