Question 2a: This one is specifically about natural gas! Please use the chart below to show three functions: the demand for natural gas, the supply of natural gas prior to the new natural gas discoveries (label it 2000), and the current supply of natural gas (label it this year). Further, on the chart show the year 2000 natural gas price and the current year price. For this question assume that there is no change in demand for natural gas from 2000 to this year. 2b. Look at the price changes you presented for natural gas in part a. For this question discuss how this price change could effect markets/products which rely heavily on natural gas. An example product that relies heavily on natural gas is electricity. (You can write about electricity or another product if you prefer.) Question 2a: This one is specifically about natural gas! Please use the chart below to show threefunctions: the demand for natural gas, the supply of natural gas prior to the new natural gas discoveries(label it 2000), and the current supply of natural gas (label it this year). Further, on the chart show theyear 2000 natural gas price and the current year price. For this question assume that there is nochange in demand for natural gas from 2000 to this year.PriceQuantity2b. Look at the price changes you presented for natural gas in part a. For this question discuss how thisprice change could effect markets/products which rely heavily on natural gas. An example product thatrelies heavily on natural gas is electricity. (You can write about electricity or another product if youprefer.)

1b. Below graph shows the DD is the demand curve and S is the supply curve. Before the new natural…

Answered: Question 2a: This one is specifically…

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 3PA: Consider the market for minivans. For each of the events listed here, identify which of the...

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Question 2a: This one is specifically about natural gas! Please use the chart below to show three functions: the demand for natural gas, the supply of natural gas prior to the new natural gas discoveries (label it 2000), and the current supply of natural gas (label it this year). Further, on the chart show the year 2000 natural gas price and the current year price. For this question assume that there is no change in demand for natural gas from 2000 to this year.

2b. Look at the price changes you presented for natural gas in part a. For this question discuss how this price change could effect markets/products which rely heavily on natural gas. An example product that relies heavily on natural gas is electricity. (You can write about electricity or another product if you prefer.)

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