NUMBERS 3 AND 4 ONLY. Draw a graph for both and indicate if any surplus or shortage occurs.

MARKET ANALYSIS: (worth 5 points apiece) - show impact on P and Q, and indicate if any surplus or shortage results 1. Natural Gas Market: Due to persistent shortages, Congress eliminates the cap (i.e., price ceiling) on natural gas prices 2. Low-skilled Labor Market: Government raises the minimum wage from $7.35 to $15.00 per hour when the going price is $10.00 per hour 3. Legal cannabis dispensaries: the state increases the number of dispensary licenses 4. Legal cannabis dispensaries: the state raises the state sales tax on marijuana