Because of a new pipe line from Canada, the supply of natural gas to Connecticut has...
Because of a new pipe line from Canada, the supply of natural gas to Connecticut has increase by 10% and the price of natural gas has fallen by 5%. What can you say about the price elasticity of supply? What can you say about the price elasticity of demand?
Homework Answers
Due to construction of new pipeline the supply of natural gas increases and price also decreases so there will be a change in the price elasticity of supply.
but price elasticity of demand will remain constant.
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Because of a new pipe line from Canada, the supply of natural
gas to Connecticut has...
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