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Author Question: Iran called on OPEC in November 2008 to cut production by a further 1 million to 1.5 million barrels ... (Read 127 times)

bb

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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.


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Danny Ewald

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


bb

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Reply #2 on: Jun 29, 2018
Correct answers!


Danny Ewald

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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