(Answered) A recent newspaper article reads the organization of the

Management Studies

A recent newspaper article reads: "The Organization of the Petroleum Exporting Countries on Wednesday committed its fractious members to their first oil production limits in eight years. OPEC has agreed to cut production by about 1.2 million barrels per day, or about 4.5 percent of current production, to 32.5 million barrels per day. Now comes the hard part."

a. What is the "hard" part of this collusive agreement? Explain.

b. Do you think it would be "easier" or "harder" if it were the "Organization of the Wheat Exporting Countries"? Explain

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