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Research design -Gasoline prices

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As we have recently experienced, the instability in the price of gasoline has created sudden increases in prices. Mostly these increases are from changes in the supply, but can the gas companies pass all the increases along to the consumer? Some of the gas companies would like to discover or test the elasticity of demand, or at what price will consumers stop buying gas and choose alternatives like carpools, public transportation, or riding a bicycle.

a) State the problem to be solved.
b) Explain what type of research design(s) will be used.
c) Explain what type of data collection should be selected.
d) Choose a measurement for this study and explain why

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Solution Summary

The expert examines research design for gasoline prices. Why the specific research design was used is given. The measurements for the study are decided upon.

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A. The problem to be solved is will consumers eventually begin to carpool, use public transportation, or bicycles more should gas prices continue to rise?

B. A good research design for this ...

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