Choose any good or service and analyze it from an economic perspective using the

Choose any good or service and analyze it from an economic perspective using the concepts we have used throughout the microeconomics portion of the quarter. The goal of this analysis is for you to take a topic of interest to you personally and/or professionally and expand your knowledge of it from an economic perspective.
Past topics have included teen fitness programs, high end sneakers, pickle ball equipment, baseball season tickets
You can answer the questions directly (i.e. below each question write the answer) or in paragraph format. Either way, please address all questions in full sentences and explain your answers. Reference your work when citing statistics or facts that are not commonly known. Any citation format (APA, MLA, etc) works but make sure your citations are specific to a particular sentence (not just listed below paragraphs) and please do not cite Wikipedia. Note that I will grade down for severe deviations from proper grammar and basic English writing standards. There is no page requirement but accurate, full answers tend to be around 8 pages or more (with questions included).
The product that you will be analyzing is: Oil market in the United States.
There is no need to write in a long research paper format, but just answer/type it directly below all the questions listed in the docx file(market analysis 2023 docx file). don’t forget to write the reference sources on the last page. please use MLA citation format.