Pricing/Supply and Demand

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Pricing/Supply and Demand

Present an analysis regarding oil prices.  Discuss the concepts of demand & pricing (ch 6) as it relates to oil.  What are the implications from recent to intermediate history.

In your analysis be sure to include the following issues regarding oil pricing:

Elasticity of demand (apply text concept to oil prices)

Supply and demand curves  (provide a supply demand curve)

Marginal revenue vs. Marginal cost

Substitutes and complements

Please conclude with a 3 month prediction of oil prices.

Paper Writing Expectations
Paper length:  about 2 – 3 pages

Single spaced,  MS Word

Professional presentation

Use section titles

Charts and graphs professional and effectively labeled.

High level of sophistication

Avoid first person conversational tone