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Read carefully the article of "Eight Reasons Pump Prices May Move Higher" by John W Schoen at...

Read carefully the article of "Eight Reasons Pump Prices May Move Higher" by John W Schoen at

www.nbcnews.com/id/13599899/ns/business-autos/t/eight-reasons-pump-prices-are-moving-higher/#.Uw4aUM6PMf4

Then answer following questions.

The author states "When commodity prices go up, the economic textbooks say demand is supposed to go down." Explain why the statement is false.
How does the higher demand for ethanol effect the supply of oil? Why?
How does the article explain overall increase in the price of oil?

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The author states.docx

The author states "When commodity prices go up, the economic textbooks say demand is
supposed to go down." Explain why the statement is false.
Answer:
This statement is false because...

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