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Posted by on Friday, October 6, 2006 at 9:11pm.

Suppose the price elasticity of demand for heating oil is 0.2 in the short run and 0.7 in the long run.
c. If the price of heating oil rises from $1.80 to $2.20 per gallon, what happens to the quantity of heating oil demanded in the short run? In the long run? (Use the midpoint methodin your calculations.)

  • Economics - , Wednesday, March 7, 2012 at 11:03am

    Suppose the price elasticity of demand for heating oil is 0.2 in the short run and 0.7 in the long run.
    c. If the price of heating oil rises from $1.80 to $2.20 per gallon, what happens to the quantity of heating oil demanded in the short run? In the long run? (Use the midpoint methodin your calculations.)

  • Economics - , Tuesday, June 11, 2013 at 9:35pm

    dekeoteted dhtekt hio3qtk3

  • Economics - , Thursday, October 8, 2015 at 9:11am

    Quantity demanded will increase by 0.4

  • Economics - , Thursday, September 15, 2016 at 2:48am

    2we2

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