DEMAND AND COMPETITION IN THE RETAIL MARKET OF DIESEL FUEL IN BULGARIA
DEMAND AND COMPETITION IN THE RETAIL MARKET OF DIESEL FUEL IN BULGARIA
Author(s): Milcho BliznakovSubject(s): Economy, National Economy, Supranational / Global Economy, Business Economy / Management, Transport / Logistics
Published by: Икономически университет - Варна
Keywords: Retail diesel fuel market; demand; competition; price elasticity
Summary/Abstract: The purpose of the article is to evaluate the parameters of demand for diesel fuel by households in Bulgaria, the structure of the retail fuel market and the effectiveness of competition. Based on statistical data, the parameters of the demand function for diesel fuel by households were estimated and the price and income elasticity was determined. Models of market behaviour are applied and theoretical values of equilibrium quantities and prices are estimated. The hypotheses of cartel existence, revenue maximization, competitive market with low market concentration and perfect competition are tested.
Journal: Izvestiya. Journal of Varna University of Economics
- Issue Year: 67/2023
- Issue No: 3
- Page Range: 224-237
- Page Count: 14
- Language: English