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

Author Question: The Organization of Petroleum Exporting Countries (OPEC) controls about 75 percent of the world's ... (Read 124 times)

Frost2351

  • Hero Member
  • *****
  • Posts: 557
on: Jun 29, 2018
The Organization of Petroleum Exporting Countries (OPEC) controls about 75 percent of the world's proven oil reserves. Economists refer to OPEC as a cartel because
 
  A) it is a group of firms that collude to restrict output to increase prices and profits.
  B) OPEC is a monopoly, but it is located outside of the boundaries of any one country. This is the definition of a cartel.
  C) this is the term economists use to describe an oligopoly that sells a standardized product, such as oil, rather than a differentiated product, such as automobiles.
  D) this is the term used for an oligopoly that is controlled by national governments rather than private firms.

Question 2

Refer to Figure 15-10. What is the area that represents producer surplus under a monopoly?
 
  A) the triangle 0P3H B) the rectangle P1P3HF
  C) the trapezium 0P1FH D) the triangle 0P2E
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yahahah24021

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


Frost2351

  • Member
  • Posts: 557
Reply 2 on: Jun 29, 2018
Gracias!

ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

The spongy bone in the top of the femur changes density and organization during growth. The spongy bone in the top of the femur changes density and organization during growth.
At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da
How to solve any percent change problem How to solve any percent change problem
Give the world a reason to remember your name Give the world a reason to remember your name
Penicillin saved the lives of many soldiers in World War II Penicillin saved the lives of many soldiers in World War II
Nonanthropoid Primates: New World Monkey Nonanthropoid Primates: New World Monkey
Video: Role of the respiratory system - effect of altered ventilation rates

For a complete list of videos, visit our video library