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).
Liquefied natural gas, or LNG, is natural gas in its liquid form. LNG is produced by purifying natural gas and super-cooling it to -260Â°F to turn it into a liquid. During the process known as liquefaction, natural gas is cooled below its boiling point, removing most of the compounds found in the fuel.