DEMAND AND COMPETITION IN THE RETAIL MARKET OF DIESEL FUEL IN BULGARIA

Milcho BLIZNAKOV
Department of Industrial Business and Logistics, Varna University of Economics, Bulgaria e-mail: mbliznakov@ue-varna.bg
Abstract
BLIZNAKOV, M. (2023) Demand and competition in the retail market of diesel fuel in Bulgaria. Izvestiya. Journal of Economics, Management and Informatics, University of Economics Varna, 67 (3), p. 224 – 237 https://doi.org/10.56065/IJUEV2023.67.3.225
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
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Издателство "Наука и икономика"
Икономически университет - Варна

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