Forecasting Oil Price and Demand

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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...
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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...
Showed next 250 characters

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