Textbook(if needed): ECON Micro 5th edition by William McEachern
Select one of the items listed below and write a 1 to 2 page paper on the impact it would have on the market for world oil.
You will use supply and demand analysis to ilustrate the impact. Included in your paper should be a prediction of what the
impact wil be on the equilibrium price and quantity of oil. You analysis will consist of five section, listed below. Each
section should be at least one paragraph of at least three sentences.
Sections of the paper.
1. Explanation of lssue(s): You will clearly state the problem/issue and include any information necessary to fully explain
2. Evidence: You will select appropriate evidence to thoroughly invemigete the problem. and critically evaluate the
3. Assumptions: You thoroughly analyze your assumptions and include relevant contextual information.
4. Your position (perspective, thesis/hypothesis): You will present a hypothesis that takes into account the complexities of
5. Conclusions and related outcomes: Your conclusions will be logically tied to the evidence and outlined.
Items to select from:
A. Retrofitting homes with insulation becomes cheaper.
B. Oil is discovered in Potsdam NY.
C. Hybrid cars become more popular: