The price elasticity of demand for natural gas is -12 and, Ask an Expert

Economics

The price elasticity of demand for natural gas is -1.2, and the price elasticity of supply for natural gas is 0.6. If the government imposes a ceiling price for natural gas that is 10 percent below the equilibrium price, the result will be a shortage equal to ___ percent of the equilibrium quantity?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91529236

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