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Why do fuel prices fluctuate

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Reference no: EM132401247

Why Do Fuel Prices Fluctuate?

  • Discuss at least two variables that influence demand and two variables that influence the supply of oil.
  • Do these variables result in a movement along the demand or supply line, or a shift? Explain.
  • What are some of the opportunity costs of higher fuel prices?
  • How is the economic concept of scarcity related to price fluctuation?
  • How will alternative sources of energy affect future oil prices?

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Reference no: EM132401247

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