Cosby Oil Thrives Alongside Big Rivals
Paper instructions:

Douglas, E. “Cosby Oil Thrives Alongside Big Rivals.” Los Angeles Times, February 3, 2003, Part C, Business, pp.
C1, C4
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two pages along wiht graphs!!

The assignment consists of reading one of the approved articles on an economic topic and writing a short paper about the
article using the tools learned in this course. The paper should include an explanation of the problem, a summary of the
arguments in the article, an analysis of these arguments and their implications. For example, one of the articles might report
that a firm is trying to cut its production to make more revenue. Your analysis should explain that a cut in supply ceteris
paribus leads to an increase in the price, which would raise revenue if the demand for the good is relatively inelastic. The
price elasticity of the demand for the product depends on the availability of substitutes and other factors. You would want to
include a demand and supply graph illustrating these points. The question on the best way to stop the use of cocaine that we
did in class is another good example