Iran called on OPEC in November 2008 to cut production by a further 1 million to 1.5 million barrels per day when it meets in Cairo later this month. Why would OPEC, a cartel, restrict production?
A) to decrease demand
B) to increase supply
C) to decrease quantity supplied
D) to increase profits
D
Economics
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Potential output in an economy decreases as the supply of labor decreases or the capital stock increases
Indicate whether the statement is true or false
Economics
From the beginning of the 1990s to the year 2000, investment spending as a share of U.S. GDP has tended to
A) decrease. B) remain the same. C) fluctuate wildly. D) increase.
Economics