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Title: The Organization of Petroleum Exporting Countries (OPEC) controls about 75 percent of the world's pr Post by: Tidy on Jun 21, 2015 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) OPEC is a monopoly, but it is located outside of the boundaries of any one country. This is the definition of a cartel. B) this is the term used for an oligopoly that is controlled by national governments rather than private firms. C) it is a group of firms that collude to restrict output to increase prices and profits. D) 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. Title: Re: The Organization of Petroleum Exporting Countries (OPEC) controls about 75 percent of the world' Post by: Chimelo46 on Jul 19, 2015 Content hidden
Title: Re: The Organization of Petroleum Exporting Countries (OPEC) controls about 75 percent of the world's pr Post by: Chimelo46 on Aug 31, 2015 Glad to help you, and good luck with your course.
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