AN APPROACH TO MODELING THE PROBABLE CONSUMERS DEMAND OF FOOD PRODUCTS USING PEARSON DISTRIBUTION SYSTEM AND JOHNSON DISTRIBUTION SYSTEM

Milcho Bliznakov ()
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Milcho Bliznakov: Department of Industrial Business and Logistics, Varna University of Economics, Bulgaria

Business & Management Compass, 2023, issue 3, 224-237

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.

Keywords: Retail diesel fuel market; demand; competition; price elasticity (search for similar items in EconPapers)
JEL-codes: L1 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:journl:y:2023:i:3:p:224-237

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