This topic contains a solution. Click here to go to the answer

Author Question: Suppose the supply of non-OPEC oil increases due to new petroleum discoveries in other countries. ... (Read 105 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
Suppose the supply of non-OPEC oil increases due to new petroleum discoveries in other countries. What happens OPEC's share of the world oil market?
 
  A) Increases
  B) Decreases
  C) Remains the same
  D) We do not have enough information to answer this question.

Question 2

Refer to Figure 9.9. Now suppose an import quota of 3000 trucks is imposed. The quota will make total consumer surplus equal to
 
  A) 25,000.
  B) 13,125,000.
  C) 40,000,000.
  D) 62,500,000.
  E) 75,625,000.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chinwesucks

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

B

Answer to Question 2

D




Kthamas

  • Member
  • Posts: 546
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it


ecabral0

  • Member
  • Posts: 310
Reply 3 on: Yesterday
Excellent

 

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

For a complete list of videos, visit our video library