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Could we see $20 per barrel price of oil?

The answer is yes, and the ones who will suffer? Well, everyone will, but North American producers, particularly in the shale and bitumen markets, will suffer the most. Why is this happening? Well North American production has increased and nobody else worldwide is...

Consumption Bundle Assumptions

Introductory Macroeconomics Following up from our introduction to economics/macroeconomics article, this post talks about ‘self-interest’ and maximizing over a set of preferences subject to constraints. Let’s start off with some examples, but first,...

Merry Christmas From DiscussEconomics

From everyone here at DiscussEconomics we want to wish you a great Christmas. Hopefully your bills won’t get the better of you this season, but hey, if people didn’t spend we’d have nothing to talk about! If you don’t do the Xmas thing then...

Microeconmics: The Monopoly

Let’s start our introduction to monopolies by offering a definition: An industry comprising of only one firm. Examples include utility companies (gas, electric, water), rail, and cable companies. Reasons for monopoly: (1) No close substitutes – If...
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