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Topic: Business
Number of pages / Number of words: 5 / 1268
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Hence the new demand curve equation is ?? Q = {107.6 + (86.5 ?V 82.8)} ?V 0.421P = 111.3 ?V 0.421P

At new equilibrium,

111.3 ?V 0.421P (new demand curve) = 57.96 + 0.421P (equation of supply curve)

Solving for P, we get P = 63.34.

Hence the price of oil on 01 Nov 2011 will be $63.34

2. On 01 Nov 2011 - Oil at $63...


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Hence the new demand curve equation is ?? Q = {107.6 + (86.5 ?V 82.8)} ?V 0.421P = 111.3 ?V 0.421P

At new equilibrium,

111.3 ?V 0.421P (new demand curve) = 57.96 + 0.421P (equation of supply curve)

Solving for P, we get P = 63.34.

Hence the price of oil on 01 Nov 2011 will be $63.34

2. On 01 Nov 2011 - Oil at $63...


Essay fragment

General points of the essay

A Report On Emission In Negative Externality And Price Elasticity Of Demand Of Petroleum Demand Analysis: Price Elasticty Demand Equation for Natural Gas Usage Forecasting Oil Price and Demand Price Elasticity of Demand Price/Income Elasticity of Demand Supply, Demand, and Price supply, demand, and price change The Effect of Price Elasticity of Demand in Airline Industry Verizon Wireless - Price of Demand How Labor Market Equilibrium Is Affected By The Supply And Demand Of Labor Forecasting demand Supply Demand Price Supply, Demand and Price Demand Management: Integrating Demand and Supply in Real Time

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