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AREA COMP QRES PRES RES INCOME Texas BAY CITY GAS CO 3750 498.7867 121235 22,300 Texas ALTO CITY OF 32037 18.74208 692 17,346 Texas ROMA

AREA COMP QRES PRES RES INCOME
Texas BAY CITY GAS CO 3750 498.7867 121235 22,300
Texas ALTO CITY OF 32037 18.74208 692 17,346
Texas ROMA CITY OF 7423 18.33639 1014 11,122
Texas DILLEY CITY OF 309 359.2039 6168 11,706
Texas FALFURRIAS UTIL CITY OF 20098 20.582 985 13,187
Texas NEW SUMMERFIELD CITY OF 31905 10.44021 697 13,714
Texas COTULLA CITY OF 535 321.7551 8889 13,928
Texas PEARSALL CITY OF 21724 15.2924 944 14,102
Texas HUGHES NATURAL GAS INC 240882 20.01613 3788 14,104
Texas EASTON GAS SYS CITY OF 8142 8.726357 330 14,188
Texas GRANDFALLS CITY OF 5802 7.416925 90 14,263
Texas CITY OF SPUR 11950 10.21941 224 14,549
Texas BRACKETVILLE MUN GAS 10941 16.90348 218 14,729
Texas PINELAND CITY OF 6451 20.5007 268 14,803
Texas HEMPSTEAD CITY OF 41162 10.64985 1001 15,119
Texas ROBSTOWN UTIL SYS 101397 15.35899 3068 15,134
Texas NAVASOTA CITY OF 60299 11.26831 1523 15,250
Texas MORTON CITY OF 661 591.4796 41939 15,322
Texas GARRISON CITY OF 11738 10.68998 246 15,468
Texas HEMPHILL CITY OF 8695 14.91305 264 16,103
Texas UVALDE GAS SYSTEM 45336 11.1512 1872 16,113
Texas GEORGE WEST CITY OF 6554 20.22307 294 16,254
Texas NEWTON CITY OF 445 512.8449 16822 16,811
Texas SABINAL CITY OF 5443 24.22249 256 17,166
Texas PLAINS CITY OF 436 515.7729 23788 17,801
Texas PLAINS GAS FARMERS COOP 1723 6.517702 18 17,801
Texas DAISETTA CITY OF 3026 16.64078 92 17,929
Texas JOAQUIN MUN GAS CO 3838 12.27983 104 18,097
Texas WOODVILLE CITY OF 25094 9.765522 772 18,359
Texas BRENHAM CITY OF 3824 387.4971 133344 19,652
Texas SPLENDORA CITY OF 8711 9.500631 237 20,014
Texas CARRIZO SPRINGS CITY OF 13050 28.31479 822 20,173
Texas SUNDOWN CITY OF 25177 10.20022 413 20,220
Texas STOCKDALE CITY OF 7121 19.40711 242 20,583
Texas WOODSBORO NATURAL GAS CORP 245056 0.803633 311 20,751
Texas MCLEAN CITY OF 410 775.5585 32447 20,785
Texas STERLING NATURAL GAS INC 335453 0.365962 177 20,799
Texas LEFORS TOWN OF 292 586.5137 14894 21,102
Texas WHITEFACE CITY OF 9193 8.397803 186 21,267
Texas SEALY CITY OF 6621835 0.083228 1221 21,387
Texas THREE RIVERS CITY OF 5775 15.03117 333 21,397
Texas DENVER CITY GAS SYSTEM 64218 7.662867 1142 21,414
Texas MARKHAM GAS CORP 7203 16.38706 245 21,503
Texas KOUNTZE CITY OF 242 410.2851 7887 21,591
Texas CHESTER GAS SYS 217 630.7097 8025 21,697
Texas SWEENY CITY OF 945 473.3026 31979 21,850
Texas PERRYTON CITY OF 267590 6.106611 3150 21,997
Texas GARY NATURAL GAS SYSTEM 37866 13.59293 976 22,085
Texas SAN ANTONIO PUB SVC BD 11585090 11.07481 314046 22,414
Texas FORT STOCKTON CITY OF 97625 12.86875 2292 22,598
Texas REKLAW NAT GAS SYS 60562 11.26229 966 22,688
Texas COLUMBUS CITY OF 39351 12.85911 1085 22,828
Texas LYTLE CITY OF 211372 0.811347 349 22,903
Texas STINNETT CITY OF 35024 9.577804 613 23,770
Texas BRAZORIA CITY OF 17125 12.25915 677 24,049
Texas APPLEBY NATURAL GAS 68126 10.90328 458 24,613
Texas CORPUS CHRISTI GAS DIV 1406289 5.712743 51469 24,676
Texas CASTROVILLE CITY OF 24330 16.17135 738 24,700
Texas BIG LAKE CITY OF 31055 16.93086 731 24,712
Texas WALLER CITY OF 501 526.3792 18836 24,741
Texas CENTERPOINT ENERGY ARKLA 783283 11.38399 12953 24,891
Texas CENTERPOINT ENERGY ENTEX 76278458 11.053 1528562 24,891
Texas BELLVILLE CITY OF 43990 10.77636 1177 25,004
Texas HUXLEY CITY OF 1085 659.1069 60844 25,188
Texas SUNRAY UTIL CITY OF 43849 9.869005 643 25,299
Texas GRUVER CITY OF 481 663.3264 41579 25,499
Texas UNIVERSAL NATURAL GAS INC 505551 9.67554 7037 26,176
Texas CUSHING CITY OF 257 537.9144 9540 26,445
Texas CHIRENO CITY OF 1289 540.2568 59977 27,096
Texas CITY OF ALPINE GAS DEPT 64409 15.592 1706 27,454
Texas RANKIN CITY OF 235 633.2766 12463 27,544
Texas BOOKER CITY OF 184941 1.287838 515 27,715
Texas IRAAN CITY OF 47130 4.903268 386 28,261
Texas ROCKPORT CITY OF 95190 17.23778 4164 28,471
Texas WHITE DEER CITY OF 30470 8.124877 393 28,864
Texas TOMBALL CITY OF 102691 12.10356 2201 28,936
Texas PORT ARANSAS CITY OF 28631 14.01041 857 34,357
Texas GREY FOREST UTIL 630234 14.93179 12772 34,723
Texas GOLDSMITH CITY OF 4929 8.167174 99 37,570

Consider the following multiplicative demand function for residential gas utility customers in Texas: QRES = *PRES1*RES2*INCOME3. QRES = residential MCF of gas consumed, PRES = residential price per mcf of gas, and INCOME = per capita income. Go to the data set "TEXAS GAS DATA SET above. You will find actual data for QRES, PRES, RES and INCOME. Estimate the Texas residential gas demand function.

1a What is the constant price elasticity of demand?

1b What is the estimated residential gas INCOME elasticity of demand?

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