The opec cartel has had periods of success as well as, Ask an Expert

Economics

The OPEC Cartel has had periods of success as well as failure. Of the following factors, which does not contribute to success in a cartel?

a. a low price elasticity of demand for oil (inelastic demand).

b. restricted supply of other forms of energy, such as nuclear.

c. together, members of OPEC control a large percentage of known oil reserves.

d. supply of crude oil by non-OPEC producers is very elastic.

e. all of the above factors contribute to cartel success.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M961749

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