Question
If OPEC is an effective cartel, a) members agree on output quotas b) oil prices will be lower than if the market functioned competitively c)
If OPEC is an effective cartel,
a) members agree on output quotas
b) oil prices will be lower than if the market functioned competitively
c) price changes are dictated by changes in demand
d) output changes are dictated by changes in demand
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Microeconomics
Authors: Roger A. Arnold
12th Edition
1285738306, 978-1285738307
