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Speculators decreases price volatility for demand curves

Speculators decrease price volatility through, in effect, changing demand curves: (w) out at low prices, and shifting supply curves out at high prices. (x) out at low prices, and shifting supply curves within at low prices. (y) in at low prices, and shifting supply curves within at high prices. (z) out at high prices, as well as shifting supply curves out at high prices.

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