Asked: November 9, 20202020-11-09T20:58:55+00:00 2020-11-09T20:58:55+00:00 if the price of natural gas rises when is the price elasticity of demand likely to be the highest? cameron 142 Questions 1 Answer 1 Best Answer 0 Points View Profile cameron Hi. if the price of natural gas rises when is the price elasticity of demand likely to be the highest? natural gas 1 Answer Voted Oldest Recent alice 0 Questions 136 Answers 136 Best Answers 136 Points View Profile Best Answer alice 2020-11-09T20:59:13+00:00Added an answer on November 9, 2020 at 8:59 pm The higher the price elasticity of demand, the higher the response capacity of the quantity demanded to price changes. Fluctuations in natural gas prices are a function of market supply and demand. This implies that, even in the short term, Fluctuating supply and demand for natural gas may cause significant changes in prices. Being a non-renewable source of energy, natural gas prices mainly depend on the reserve. There will be a rise in the prices, if for any reason the supply is restricted, and the demand remains the same. Likewise, there is a possibility that the prices will fall when there is an oversupply, and a large amount of natural gas is stored, while demand remains the same. 0 Reply Share Share Share on Facebook Share on Twitter Share on LinkedIn Share on WhatsApp Leave an answerLeave an answerCancel reply Attachment Select file Browse Featured image Select file Browse Save my name, email, and website in this browser for the next time I comment.