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Document18 - Word Search (Alt+Q) Germaine kirkland GK aw Design Layout References Mailings Review View Help Share Comments bri (Body) 11 ~ A A Aa

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Document18 - Word Search (Alt+Q) Germaine kirkland GK aw Design Layout References Mailings Review View Help Share Comments bri (Body) 11 ~ A A Aa Ap AaBbCcDd AaBbCcDd AaBbCc AaBbCct Aa B AaBbCCD AaBbCCDd Find La Replace IUab x x'ADA. 1 Normal No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em. Dictate Editor Reuse Select Files Font Paragraph Styles Editing Voice Editor Reuse Files The October 30th, 2021 edition of The Economist included an article titled "As Energy Prices Spike, Governments Reach for the Dirtiest Tool in the Box." (It is not necessary for you to read the article; we will provide all relevant information in the questions we ask). The "dirty tool" in question is fossil-fuel subsidies. For Question 1, consider the market for natural gas in January 2020, prior to the onset of the Covid pandemic and before any changes described in The Economist article. Assume that in January 2020, natural gas prices were in a short-run equilibrium. Draw a graph that shows supply and demand analysis for gas in January 2020. This graph will serve as a starting point for your analysis in Questions 2, 3, 4, and 5. In drawing this graph, please assume that the demand curve is downward sloping and supply curve is upward sloping. Clearly show the market equilibrium in January 2020. Please remember to clearly label your axes, with P on the vertical axis and Q on the horizontal axis. Label the supply curve as So; demand curve as Do; the equilibrium price as Po; and equilibrium quantity as Qo- Please upload a single MS Word, Adobe PDF, or graphics file (JPEG, TIFF, PNG, BMP only) that does not exceed 5MBs with a graph as an answer to this

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