During a discussion several year; ago on building a pipeline to Alaska to carry natural gas, the U.S. Senate passed a bill stipulating mat there should be a guaranteed minimum
- Using the demand and supply framework, predict the effects of this
price floor on fine price, quantity demanded, and quantity supplied. - With the enactment of this price floor for natural gas, what are some of the likely unintended consequences in line market?
- Suggest some policies other than the price floor that he government can pursue if it wishes to encourage drilling for natural gas and fur a new pipeline in Alaska.
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