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Author Question: If a few oil-producing countries in the Middle East decide to jointly limit the production of oil, (Read 58 times)

Brittanyd9008

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on: May 24, 2019
If a few oil-producing countries in the Middle East decide to jointly limit the production of oil,
◦ they are forming a cartel.
◦ they would like the price of oil to be the same as if the market were perfectly competitive.
◦ game theory does not apply to their actions because they are nations, not firms.
◦ they will try to operate as a large, monopolistically competitive firm.
◦ they will agree to lower the price of oil in order to increase their profits.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by Brittanyd9008 on May 24, 2019

livaneabi

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Reply #1 on: May 24, 2019
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.
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Brittanyd9008

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Reply 2 on: May 24, 2019
Great answer, keep it coming :)

fatboyy09

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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