Biology Forums - Study Force

Other Fields Homework Help Economics Topic started by: Sublight2097 on Jun 20, 2015



Title: What would be the most likely effect in the market for OPEC oil if the U.S. were to impose a legal c
Post by: Sublight2097 on Jun 20, 2015
What would be the most likely effect in the market for OPEC oil if the U.S. were to impose a legal ceiling price on crude petroleum produced domestically? Assume their price is far below the current world price?
A) The demand would decrease.
B) The demand would increase.
C) The supply would decrease.
D) The supply would increase.
E) Only the quantity would change, not the demand or the supply.


Title: Re: What would be the most likely effect in the market for OPEC oil if the U.S. were to impose a leg
Post by: Smoooth on Aug 10, 2015
Content hidden


Title: Re: What would be the most likely effect in the market for OPEC oil if the U.S. were to impose a legal c
Post by: Sublight2097 on Aug 31, 2015
Seriously, you've been tremendously helpful! Thank you.


Title: Re: What would be the most likely effect in the market for OPEC oil if the U.S. were to impose a legal c
Post by: Smoooth on Aug 31, 2015
No problemo :-]