==+a. Draw the world demand curve W, the non-OPEC supply curve S, OPECs net demand curve D,

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==+a. Draw the world demand curve W, the non-OPEC supply curve S, OPEC’s net demand curve D, and OPEC’s marginal revenue curve. For purposes of approximation, assume OPEC’s production cost is zero. Indicate OPEC’s optimal price, OPEC’s

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Microeconomics

ISBN: 9780134184241

9th Edition

Authors: Robert Pindyck, Daniel Rubinfeld

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