Suppose the price elasticity of demand for heating oil is 0.1 in the short run and 0.9 in the long run.

If the price of heating oil rises from $1.90 to $2.10 per gallon, the quantity of heating oil demanded willby

%

in the short run and by

%

in the long run. The change isin the long run because people can respondeasily to the change in the price of heating oil.