Question
Price of oil in international markets has dropped stunningly 60% in the past twelve months. Among the factors mentioned behind this drastic fall is the
Price of oil in international markets has dropped stunningly 60% in the past twelve months. Among the factors mentioned behind this drastic fall is the millions of barrels of oil produced in the US called shale oil." and analyze:
The pricing of oil at the presence of OPEC and the role of Speculators
Why shale oil is a substitute for oil and explain the news in regard to the Cross elasticity of demand. (Chapter 3)
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Survey of Economics
Authors: Irvin B. Tucker
8th edition
1111989664, 978-1133713357, 1133713351, 978-1111989668
