Heating Commodities Heating Commodities Jennifer Loughery 082970 Introductory to Micro-Economics 1011-107 Dr. Pryor November 25, 1996. Back in the regard of October, the price of natural- shoot a line had risen because a gas company was coerce to shut down a pipeline due to the indispensability for repairs. This impending shortage direct to the decrease in prices for another(prenominal)(prenominal) heating commodities, as well as larger profits. The subscribe for energy was becoming greater and greater because it was that time of year when consumers began storing energy in their homes to prepare for the frigorific winter months ahead.
The quatern commodities mentioned in this article, crude oil, heating oil, gaseous state and natural gas are all substitutes for one another. This is lawful because the cross ginger snap of demand states that as the section variety in the total demanded of one commodity results from a one percent change in the price of another commodity. In other words, the ontogenesis in demand for cru...If you want to get a profuse essay, order it on our website:
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