If the price heatimg oil rises from 1.8 to 2.2 per gallon, Ask an Expert

Economics

Suppose the price elasticity of demand for heating oil is 0.2 in the short run and 0.7 in the long run. If the price heatimg oil rises from $1.8 to $2.2 per gallon, what is the percentage change to the quantity of heating oil demand in the short run?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M941938

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