Suppose wage rate of coal miners increases and price of natural gas decreases (coal and natural gas are substitute).What is most likely to be the new equlibrium price and quantity.

Wage rate of coal miners increases which automatically means increase in price of coal and price of natural gal decreases and if natural gas and coal are substitute then demand for natural gas will increase . To struct equilibrium price of coal should fall to meet demand .

  • -2
What are you looking for?