Managerial Economics

Q1.Read your textbook and other peer-reviewed publications, write a minimum of four (4) pages of

high quality well written APA formatted standard about the following scenario. Please keep in

mind that this assignment is quantitative, therefore do not forget to use the figures and charts.

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 market structure for oil industry

● The supply and demand for oil in that market structure

● 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.

Q2. Using the Library Information Resource Network (LIRN), JSTOR, or any other electronic

journal database, research six (6) peer-reviewed articles that can be used to answer your

above Q1. Your discussion should summarize the articles in such a way that

it can justify any arguments you may present in your Q1 and should be different

from the abstract. In addition to your researched peer-reviewed article, you must include an

example of the article researched as it is applied by industry (company, business entity, and so

forth).

Please note: This article summary should not be the only article researched for your Q1. You may (and should) have several other articles researched to fully answer yourQ1. The concept of this Q2 is to allow students to be proactive in the research necessary to complete this assignment. You may use your article summary, partially or in its entirety in your Q1.

Important: Please ensure that your reference for the article is in correct APA format, as your

reference in your discussion post. Depending on which electronic database you use, you

should see a “Cite” selection for your article. In addition, there should be a variety of articles

summarized and as such, students should have different articles summarized. Your summary

MUST include ALL of the following in your post (include every item in the bullet list below,

or you will not receive full credit):

Do these in order:

● In correct APA format, write the Reference of the article.

● Clearly state what the article is about and its purpose.

● Describe how you will use it in your upcoming assignment.

● Repeat for a total of six (6) peer-reviewed sources.