This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Iran called on OPEC in November 2008 to cut production by a further 1 million to 1.5 million barrels ... (Read 150 times)

bb

  • Hero Member
  • *****
  • Posts: 544
on: Jun 29, 2018
Iran called on OPEC in November 2008 to cut production by a further 1 million to 1.5 million barrels per day when it meets in Cairo later this month. Why would OPEC, a cartel, restrict production?
 
  A) to decrease demand
  B) to increase supply
  C) to decrease quantity supplied
  D) to increase profits

Question 2

Rent seeking is devoted to the creation of
 
  A) monopolies.
  B) competitive industries.
  C) human capital.
  D) more elastic demand.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Danny Ewald

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


bb

  • Hero Member
  • *****
  • Posts: 544
Reply #2 on: Jun 29, 2018
Correct answers!


Danny Ewald

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
View from the Phoenix lander, 2008 View from the Phoenix lander, 2008
H. erectus migrated out of Africa beginning about 1.8 million years ago and is first known from Geor H. erectus migrated out of Africa beginning about 1.8 million years ago and is first known from Geor
The remarkably complete skull of a 3-year-old Australopithecus girl; the fossil is 3.3 million ... The remarkably complete skull of a 3-year-old Australopithecus girl; the fossil is 3.3 million ...
Production and Prices in Richland and Poorland Production and Prices in Richland and Poorland
Production of colorless sectors and reversion of the unstable colorless Production of colorless sectors and reversion of the unstable colorless
Video: Brain Anatomy Animation (Part 1 of 2)

For a complete list of videos, visit our video library