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kakasveta [241]
2 years ago
7

If the price of natural gas rises , when is the price elasticity of demand likely to be the highest?

Business
1 answer:
AlexFokin [52]2 years ago
5 0

If the price of natural gas rises, the price elasticity of demand is likely to be the highest one year after the price increase.

<h3>What is the price elasticity of demand?</h3>

A measure of a product's consumption shift in response to a price change is called price elasticity of demand. The quantity shift in percentage terms divided by the price change in percentage terms is used to determine the price elasticity of demand.

The price elasticity of demand would probably be at its peak if the price of natural gas increased. Elasticity will be strongest in the long run since consumers would start exploring alternatives as a result of ongoing price increases.

Learn more about the elasticity of demand, here:

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1 year ago
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5 0
3 years ago
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Troyanec [42]

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4

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I hope my answer helps you.

8 0
3 years ago
Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible.
kogti [31]

Answer: Please see the required journals below:

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