Because a competitive firm's marginal revenue is equal to the market price, the competitive firm's demand curve, which is just a horizontal line at the market price, is also the firm's marginal revenue curve.ecause a competitive firm's marginal revenue is equal to the market price, the competitive firm's demand curve, which is just a horizontal line at the market price, is also the firm's marginal revenue curve.
MMBTU â One million British Thermal Units or BTUs. Natural gas is generally bought and sold in MMBTUs and future prices are generally quoted in this unit of measure. Therm â 1 Therm = 100,000 BTUs. SCF â Standard Cubic Foot is one cubic foot of gas at standard temperature and pressure (60 degrees F and sea level).
Most modern gas meters measure gas in cubic metres (m 3). The energy contained in gas is measured in kilowatt-hours (abbreviated to kWh) and for natural gas is 11.2 kWh per cubic metre. Older gas meters measure gas in hundreds of cubic feet - 100 cubic feet equal 2.83 cubic metres.ost modern gas meters measure gas in cubic metres (m 3). The energy contained in gas is measured in kilowatt-hours (abbreviated to kWh) and for natural gas is 11.2 kWh per cubic metre. Older gas meters measure gas in hundreds of cubic feet - 100 cubic feet equal 2.83 cubic metres.