0
What else can I help you with?
Why is demand for a home heating fuel inelastic in cold weather?
Demand outstrips supply.
Why is demand for home heating fuel inelastic in very cold weather?
Demand outstrips supply
Why is demand for home heating fuel in cold weather?
Demand outstrips supply.
Products whose demand is price elastic and price inelastic?
product whose demand is elastic are jewells(gold,silver,platinum,dimond,etc) fuel(petrol,disel,kerosene,etc) sugar detergents soaps(washing and bathing) products whose demand is inelastic are salt fruits food and vegetables
How do you calculate heating demand using heating degree days?
H.D.D. are a measurement of the degrees below a selected temperature (65) for determining how much heat will be needed for a dwelling. It does not really give a heating demand number, but rather a fuel demand to maintain that comfort zone. To calculate heating demand, as in furnace sizing, much more info about the building is used.
Is oil as a commodity has elastic or inelastic demand?
Generally the price of petroleum is inelastic. The amount demanded does not decrease significantly with price. The fundamental reason is that our infrastructure is dependent on petroleum and we can not easily switch to another fuel source without significant upheaval in our infrastructure. For example, when petroleum prices rise people reduce the amount the drive but the can rarely eliminate it.
What is the oil heating industry?
The oil heating industry sells residential fuel oil to houses that use oil tanks for heating purposes. Fuel oil distributors are contacted when a household's oil supply is low. A fuel oil delivery is then scheduled and a truck will come to refill the tank on the scheduled date. The price of residential heating oil largely fluctuate based on your location, current demand, and speculation. Emergency heating oil delivery can also be scheduled.
What are the futures of heating oil?
The futures of heating oil is heavily dependant on the winter months of December, January, and February. There will be a quick rise in the price of heating oil if the weather becomes colder than expected and demand for fuel is higher than expected.
Can kerosene be used as home heating fuel?
Kerosene should not be used as a home heating oil unless the unit is designed to do just that, kerosene may be used in a small amount to inhibit gelling of fuel oil during extremely cold weather.
What is the main type of fuel used in a furnace that heats an apartment building?
Fuel oil or heating oil. IT's similar to diesel fuel and come in two grades. No 1 and 2. One is thinner and is used in cold climates.
What commodities have the most inelastic?
In the short run, most commodities have inelastic supply curves. In the long run, with increased investment, supply could become more elastic. I would hazard a guess that the radio - active isotopes used for nuclear fuel such as Uranium-235 have the most inelastic supply.
Is it possible to use diesel fuel for home heating oil?
Yes, it is possible to use diesel fuel as a substitute for home heating oil. Diesel fuel is similar to heating oil and can be used in some heating systems. However, it is important to check with the manufacturer of your heating system to ensure compatibility and to follow any guidelines for using diesel fuel as a substitute.
