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Recently, OPEC announced cuts in production. What is the objective given the nature of elasticity of demand for oil? a. None of the others b.

Recently, OPEC announced cuts in production. What is the objective given the nature of elasticity of demand for oil? a. None of the others b. Decrease oil prices to maximize profits of oil producers c. Help the Western countries who are the major buyers d. Increase oil prices to maximize income of oil producers

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