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Satsume Satsume
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6 years ago
The cartel of oil-producing nations (OPEC) once controlled about 80% of the world petroleum market, but OPEC's market share has declined to about half of its former level.  This outcome is a good example of how firms may have:
A) relatively high short-run monopoly power that strengthens in the long run.
B) relatively high short-run monopoly power that declines in the long run.
C) relatively low short-run monopoly power that strengthens in the long run.
D) relatively low short-run monopoly power that declines in the long run.
Textbook 
Microeconomics

Microeconomics


Edition: 8th
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oracledarrenoracledarren
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6 years ago
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Satsume Author
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6 years ago
this is exactly what I needed
shelbycox
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Yesterday
Brilliant ツ
lipop
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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