In 1981, when regulations were holding the price of natural gas below its free-market level, then-Congressman Jack Kemp of New York said the following in an interview with The New York Times : “We need to decontrol natural gas, and get production of natural gas up to a higher level so we can bring down the price.”17 Evaluate the Congressman’s statement.

BuyFind

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
BuyFind

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

Solutions

Chapter 4, Problem 8DQ
Textbook Problem

In 1981, when regulations were holding the price of natural gas below its free-market level, then-Congressman Jack Kemp of New York said the following in an interview with The New York Times: “We need to decontrol natural gas, and get production of natural gas up to a higher level so we can bring down the price.”17 Evaluate the Congressman’s statement.

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