ECON 545 Project 1 Edgar Gasoline

Answer - The new business idea of Cousin Edgar is very innovative but being an intelligent businessman Edgar should look for all the broad demand and supply conditions in the U.S economy where he is planning to buy four gas stations and to set up the stores of convenience items at each station. Being a student of economics, I would like to give him few ideas and some broad perspectives which Edgar should be taken care of before investing such a huge amount at one instance. Gasoline is one of the major product for the economy. The price and market of many other goods are dependent on the market conditions and price of Gasoline. This is because it has been widely used as the energy source for many economic activities. The global oil market is very...