Consider the OPEC (Organization of the Petroleum Exporting Countries) coalition. What are some benefits to be...
Homework Answers
1. Extend your support base, networks, connections. It increases
the numbers. More the numbers one can utilise more opportunity what
it can do by itself.
2. Provides security and protection for those members who can not
take action on their own, especially when working in an environment
which is hostile or difficult.
3. Expand existing financial and human resources by pooling them
and transferring work to other coalitions.
4. Reduces efforts and money duplication.
5. Enhance the reputation and power of the movement and of
individual members of the coalition.
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Consider the OPEC (Organization of the Petroleum Exporting
Countries) coalition. What are some benefits to be...
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8. OPEC (Organization of the Petroleum Exporting Countries) announced it will decrease oil production by 20 percent in the near future. At the same time, India's income increased from $3,400 per capita to $5,250 per capital last year, prompting a strong demand for cars and gasoli The final effect on the market of cars is:
On December 1,2016, the Organization of the Petroleum Exporting Countries (OPEC) decided to cut crude oil production starting in January 2017.It is expected that this cut in production will result in an increase in crude oil prices. This increase in crude oil prices will shift the short-run aggregate supply (SRAS) curve to the left. This situation is depicted below in the movement of the economy from point A to point B. In the figure below, shift the appropriate curve to...
4. The oll cartel The Organization of Petroleum Exporting Countries (OPEC) is a group of 12 member countries that formed a cartel to sel petroleum on the world market. They support prices higher than would exist under more competitive conditions to maximize member nation profits and restrict competition among themselves via production quotas. Suppose that OPEC does not exist and that the 12 oil-producing nations compete in the world market, which is perfectly competitive. On the following graph, use the...
Consider a cartel, the Organization of the Rice Exporting
Companies (OREC), which is a group of rice-exporting countries.
Although OREC has eight members, let’s keep it simple and assume
there are only two: China and Vietnam. The figure below shows the
payoff matrix for the game.
Each country must choose how much rice to produce, either low
output or high output. Note that this payoff matrix
is not symmetric. At any outcome, China makes more money than
Vietnam because China...
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