Monday, March 19, 2012

Government Regulation











                                                                                                                                                                                                   
Spongebob: Hey let's grab some crabby patties and go on a vacation!
Patrick: Uhhh, we can't go, gas went up ten cent last night.
Spongebob: Another ten cent!!
Patrick: Uhhh, yeah it's $3.75 a gallon cause there's no price control.
Spongebob: What do you mean price control?! (laughing)
Patrick: Uhhh... that's where the government can set the price of gas above the equilibrium and we pay a set price.
Spongebob: Well, is it gonna happen this summer Patrick because it sure would help my budget.
Patrick: Uhhh... I don't know Spongebob.
Spongebob: I'm gonna have to get another car that is fuel efficient because gas keeps fluctuating up and down daily.
Patrick: Uhhh... so what does that mean, Spongebob?
Spongebob: It means that we can't go on vacation, and I need to work extra hours at The Krusty Krab.
Patrick: That's not gonna work because the Krusty Krab has a tight budget, Spongebob.
Spongebob: Hey Patrick, let's go to Squidward's house; maybe he can explain the benefit or potential problems in price control.  





                                                         
  
Squidward:  This graph should explain everything you want to know about fluctuating gas prices Spongebob and Patrick!! This information came from my sources Mediamatters.org.  Now scram!!!





Sui