Say that the equilibrium price of natural gas would be $5 per thousand cubic feet, but there is a price floor imposed at $7 per thousand cubic feet. That price floor is then lowered to $5 per thousand cubic feet. As a result,
a. the shortage of natural gas will get worse

b. the shortage of natural gas will get less severe.
c. the surplus of natural gas will get worse.
d. the surplus of natural gas will be eliminated.

d

Economics

You might also like to view...

When you buy a United States Savings Bond, you

a. loan money to the government b. borrow money from a savings and loan association c. donate money for special government projects d. pay for your childs college education

Economics

The indifference curves for left shoes and right shoes would most likely be

A) upward sloping and concave to the origin. B) downward sloping and convex to the origin. C) downward sloping and straight lines. D) L-shaped.

Economics