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3)Assume the market for heating energy. This year it is forecasted to be an unusually cold winter. Explain what will happen to the market for
3)Assume the market for heating energy. This year it is forecasted to be an unusually cold winter. Explain what will happen to the market for heating energy. Identify the effect on equilibrium quantity and price. What happens to the number of firms in the market? Show the deadweight loss in the graph after the change. Be sure to identify the initial equilibrium. (10 points)
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