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How would an economist use supply-and-demand analysis to explain the increase in the price of gasoline in the US right after Hurricane Katrina?
An economist (or anybody who really thought about it for a moment) would say that Katrina destroyed many fuel storage facilities and refining resources along the Gulf Coast. Additionally, transportation to get the fuel out of the area was also interrupted for quite a time.
This cause a transient but serious shortage of fuel ... the supply went down, so the price went up.
What else can I help you with?
Would raising taxes on gasoline reduce automobile traffic in a nation highway be an example of a normative analysis?
No, it would be speculative analysis.
How can oil companies deal with the relative supply and demand for petrol and diesel fractions?
The supply and demand for diesel and gasoline (petrol) creates problems for refineries because sometimes the vehicle fleet demand does not match the product distribution produced by the refinery. If diesel demand is much higher than gasoline demand, but gasoline and diesel are produced in relatively equal amounts, then the gasoline will be oversupplied to the market. A refinery can only affect its product distribution slightly and each refinery is built to process a particular type of crude oil. Switching crude oils in a refinery requires complex analysis of metallurgy, capacity limitations, and profitability.
Price floors and ceilings stifle the rationing function of prices and distort resource allocation?
Economists have said that "price floorsand price ceilings stifle (prevent) the rationing function of prices and distort resource allocation." Consider what happens after a hurricane, prices are often frozen to pre-hurricane prices through "price gouging laws" to protect the consumer. Is this an example of a price ceiling or a price floor?This occurs for gasoline as well as for groceries and other products that might be in high demand after the damage of a hurricane. What is the impact in the market place of these limits?
Which statement most accurately explains the effect pf competition among local gas stations on the price of gasoline?
The demand for gasoline will decrease. The price of gasoline will decrease. The supply of gasoline will increase. The price of gasoline will increase.
Why is E85 so expensive compared to traditional gasoline?
E85 is more expensive than traditional gasoline because it is a blend of 85 ethanol and 15 gasoline, and producing ethanol is more costly than extracting and refining crude oil to make gasoline. Additionally, the infrastructure for distributing E85 is not as widespread as that for gasoline, which can also contribute to its higher price.
Which these is an example of kinetic energy?
A hurricane
Would raising taxes on gasoline reduce automobile traffic in a nation highway be an example of a normative analysis?
No, it would be speculative analysis.
Why didn't President Bush and The Congress do anything about the price of gasoline when it was over 4 a gallon before 2008?
Bush Had no control over the world Oil Supplies. Gasoline was high because of a Hurricane that hit are Oil lines.
What was the price of gasoline in January 2001?
In January 2001, the US national average price of a gallon of regular gasoline was $1.472 - equivalent to about $1.81 per gallon in 2010. An alternative figure of $1.52 was posted by The Institute for the Analysis of Global Security in 2004.
What has the author Mary Elizabeth Donovan written?
Mary Elizabeth Donovan has written: 'The construction and optimization of a hydrogen atmosphere flame ionization detector for the analysis of antiknock agents in gasoline' -- subject(s): Gasoline, Anti-knock and anti-knock mixtures
What has the author E M Shelton written?
E. M. Shelton has written: 'Motor gasolines, winter 1977-78' -- subject(s): Analysis, Gasoline, Motor fuels
Why do people covet a gasoline Honda power generator in lieu of a wind turbine during a hurricane or earthquake catastrophe?
That power is easily stored, and used over time, especially if you can't find gas or a battery.
Is automobile oil gasoline?
No, oil is oil and gasoline is gasoline, although gasoline is refined from crude oil.
Is gasoline a mixture or compound or element?
Is gasoline a element a mixture or a compound
What is the freezing point of gasoline?
Unleaded gasoline, and gasoline in general, does not have a specific freezing point. It is largely dependent on the location where the gasoline is sold, as methods of producing gasoline vary.
How can oil companies deal with the relative supply and demand for petrol and diesel fractions?
The supply and demand for diesel and gasoline (petrol) creates problems for refineries because sometimes the vehicle fleet demand does not match the product distribution produced by the refinery. If diesel demand is much higher than gasoline demand, but gasoline and diesel are produced in relatively equal amounts, then the gasoline will be oversupplied to the market. A refinery can only affect its product distribution slightly and each refinery is built to process a particular type of crude oil. Switching crude oils in a refinery requires complex analysis of metallurgy, capacity limitations, and profitability.
How many mile will 11.8 liters of gasoline equal?
A mile is a measure of distance and a litre is a measure of volume. The two measure different things and, according to basic rules of dimensional analysis, conversion from one to the other is not valid. Miles and litres of gasoline may be related in terms of fuel consumption of a vehicle but that depends on the vehicle.
