In a certain very competitive wholesale electricity market, all sellers use the same type of gas-fired generating plant. At current gas prices, the plants each have a constant marginal cost of $20/MWh...

In a certain very competitive wholesale electricity market, all sellers use the same type of gas-fired generating plant. At current gas prices, the plants each have a constant marginal cost of $20/MWh up to their capacity of 50 MW. Demand varies throughout the year, and wholesale prices change hourly to reflect that variation.(a) If the price of natural gas suddenly declines by 30%, is that likely to reduce peak electricity prices more or less than off-peak electricity prices?