Question
The primary objective(s) Of a natural resource cartel such as OPEC is (are) to: O Act independently so each producer increases their output so
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The primary objective(s) Of a natural resource cartel such as OPEC is (are) to: O Act independently so each producer increases their output so that total supply increases and prices decline, O Maintain high prices so that noncartcl producers (thc competitive fringc) have no incentive to increase production. O Act cooperatively so each producer decreases Iheir Output so that total supply decreases and prices increase. O Act independently to gain market share and cheat on other cartel mcmhcrs. O None Of the above.
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