Respuesta :
In the market for natural gas, what will likely happen to current natural gas prices and output if the producers expect future prices to decrease?
Current supply will decrease, and, as a result, current prices will increase.
How are demand and price related to ach other?
The law of supply and demand is an economic theory that explains how supply and demand are related and how this relationship affects the price of goods and services.
- A basic economic principle is that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise.
- If demand does not change, there is an inverse relationship between supply and prices of goods and services.
- If the supply of goods and services increases while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services.
- If the supply of goods and services falls while the demand remains the same, prices tend to rise to a higher equilibrium price and a lower quantity of goods and services.
To learn more about law of supply, refer to:
brainly.com/question/17805586
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