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A CNBC new story published 14 December 2021 reports, "OPEC and non-OPEC oil producers, an influential group known as OPEC+, decided on Thursday to stick to a previously agreed upon plan of hiking output by 400,000 barrels per day in January 2022.
However the alliance said in a statement that "the meeting remains in session," meaning they can "make immediate adjustments" should the current market conditions shift.
In what was a hotly anticipated meeting, the energy alliance convened via videoconference to determine whether to stick with its plan to release more oil into the market or to restrain supply amid fears over the omicron Covid-19 variant. Other issues on the table included a U.S.-led release of strategic reserves from crude-importing nations and Iran's possible re-entry into oil markets."
a. Identify the market structure where OPEC operates.
b. Discuss extensively 2 features of that market structure
Savings of $5600 per year can be achieved through either a $14 000 machine (A) with a sevenyear service life and a $2000 salvage value, or a $25 000 machine (B) with a ten-year service life and a $10 000 salvage value. If the MARR is 9 percent, which..
As you begin to learn about multimedia and web development, it is imperative that you start to observe the way different websites are structured and the way they relate to their audience and purpose. You can determine some of this information by p..
This concept has many applications in economics and in other sciences. One application in economics is the price elasticity of demand that measures how sensitive consumer demand is to the change in the price of a product or service. Do you think it i..
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Develope a blog post that is intended to make an advocacy group to influence public opinion and/or generate political action regarding an environmental issue
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Duffy derives utility from only two goods: milk and cookies. He only consumes milk and cookies in fixed proportions: he likes to have 4 cookies with each glass of milk. Duffy has income of $270, the price of milk is $1 per glass, and the price of a c..
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