Reliance, ONGC Slump After India Defers Gas Tariff Increase - 1 views

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  #1 kishanp16 on 23 Sep 14

   

  This articel relates to our topics this week because this article talks about a raise on gas prices in India and around the world, where gas is a necessity. This inelastic good was a subject to tariffs to Modi, the new indian president. The results can be summarized in a statement that one of the advisors stated. It said "Each dollar increase in gas prices will raise ONGC's annual revenue by 40 billion rupees". This epitomizes that price increase in an inelastic good means profit for the firsm. That is what every firm desires.

   

  <div class="cArrow"> </div><div class="cContentInner">This articel relates to our topics this week because this article talks about a raise on gas prices in India and around the world, where gas is a necessity. This inelastic good was a subject to tariffs to Modi, the new indian president. The results can be summarized in a statement that one of the advisors stated. It said "Each dollar increase in gas prices will raise ONGC's annual revenue by 40 billion rupees". This epitomizes that price increase in an inelastic good means profit for the firsm. That is what every firm desires.</div>

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