« previous next »

Author Question: Was the U.S. government able to control the world petroleum prices? Support your choice with ... (Read 26 times)

nramada

  • Hero Member
  • *****
  • Posts: 580
on: Jun 30, 2018
Was the U.S. government able to control the world petroleum prices? Support your choice with suitable reasons.

Question 2

Under perfect competition, existing firms leave the market in the long run if the price falls below total fixed cost.
 a. True
  b. False
  Indicate whether the statement is true or false


joshraies

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 30, 2018
Answer to Question 1

No, the U.S. government had failed to control the petroleum prices in the world market. This was mainly on account of the country's continued dependence on oil imports. Even when the country became self sufficient in petroleum, higher world prices induced the U.S. producers to export oil which drove up the domestic petroleum prices once again.

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

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.

Location of major biodiversity hot spots around the world. Location of major biodiversity hot spots around the world.
social support for the family caregiver social support for the family caregiver
The world’s longest glass-bottomed bridge The world’s longest glass-bottomed bridge
The inequality of per capita emissions between the developed world and the developing world The inequality of per capita emissions between the developed world and the developing world
Distribution of the World’s Population Distribution of the World’s Population
Mechanisms of positive control of transcription Mechanisms of positive control of transcription
Video: Photosynthesis and Van Helmont Experiment

For a complete list of videos, visit our video library