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Heating Commodities
Essay specific features
Written by:
Shirly S
Date added:
May 2, 2015
Level:
University
Grade:
A
No of pages / words:
2 / 552
Was viewed:
9058 times
Rating of current essay:
Essay content:
The demand 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 cold winter months ahead.
The four commodities mentioned in this article, crude oil, heating oil,
gasoline and natural gas are all substitutes for one another...
displayed 300 characters
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This is true
because the cross elasticity of demand states that as the percentage change in
the quantity demanded of one commodity results from a one percent change in the
price of another commodity. In other words, the increase in demand for crude
oil, gasoline, and heating oil was the outcome of the price increase in natural
gas...
displayed 300 characters
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