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lectures/commod_price.md
@@ -143,7 +143,7 @@ In this section we define the equilibrium and discuss how to compute it.
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Speculators are assumed to be risk neutral, which means that they buy the
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commodity whenever expected profits are positive.
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-As a consequence, if expected prices are positive, then the market is not in
+As a consequence, if expected profits are positive, then the market is not in
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equilibrium.
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Hence, to be in equilibrium, prices must satisfy the "no-arbitrage"
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