Final answer:
The demand for natural gas is less elastic in the short run and more elastic in the long run due to the greater capacity for consumers to make substantial adjustments over longer periods of time.
Step-by-step explanation:
The statement that the demand for natural gas will tend to be less elastic in the short run than in the long run is true. This concept is supported by the way elasticity of demand changes over different time horizons. In the short run, consumers are limited in their ability to adjust to price changes due to existing habits, contracts, and practical constraints. For example, they might only be able to carpool or adjust thermostats slightly in response to rising energy costs. However, in the long run, individuals have more flexibility to make significant changes, such as purchasing more fuel-efficient vehicles, moving closer to work, or investing in energy-efficient appliances, which can have a greater impact on their consumption of natural gas. As such, demand for natural gas is less price elastic in the short run and becomes more elastic in the long run, as consumers can make more substantial adjustments to their energy usage.