Managerial Economics

This will be a bit open ended, but I want you to base the paper (due at the end of finals week--Saturday is fine) on what's going on in the oil market.  Today, West Texas Intermediate Crude closed at -$37 dollars per barrel or so (for May delivery).  And that is a negative sign in front of the dollar amount.

A few places to start:

https://www.wsj.com/articles/why-oil-is-11-a-barrel-now-but-three-times-that-in-autumn-11587392745?mod=hp_lead_pos1

https://www.yahoo.com/finance/news/oil-crashes-lowest-level-since-113552445.html

What I'd like is for you to apply what we've learned in this class (you could talk about demand and its effect on the price, as well as the pricing and output decisions in the most recent chapters).  Even though we skipped over costs in this class, you could talk about costs and what effects it will have on the market.    There are probably some other things I'm missing that you could talk about as well.  I'd like to you have about four pages, and try to use some sources in addition to those I've given above.