Describe the current daily demand for opec oil

Reference no: EM13208453

In an article appearing on July 4th 2004, the aegency cites Mexico's concern about the production of oil by the OPEC carte. Assume the current daily demand for OPEC oil is given by the following equation P=50-0.001Q where P is the price per barrel and Q is the quantity of barrels. Would it surprise you to learn that OPECS declared objective is to sell 25 million barrels a day for an average price of $25 per barrel? Why or Why not explain

Reference no: EM13208453

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Describe the current daily demand for opec oil : In an article appearing on July 4th 2004, the aegency cites Mexico's concern about the production of oil by the OPEC carte. Assume the current daily demand for OPEC oil is given by the following equation P=50-0.001Q where P is the price per barrel

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