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Home Q & A Board Other Fields Homework Help Business Economics
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Tidy Tidy
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9 years ago
Each member of OPEC can increase its income by selling more oil than its output quota because
A) by selling more at OPEC's cartel price, a member will automatically earn more income. 
B) each member's demand is more elastic than the total demand for oil.
C) the demand for oil is inelastic so total revenue increases.
D) the demand for oil is perfectly elastic.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
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Chimelo46Chimelo46
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9 years ago
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#2
9 years ago
It was nothing, thanks for updating us.
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