Multiple Choice
After its early success in the 1970s, OPEC experienced a drop in world oil prices and a corresponding drop in oil revenues for its members, due to
A) the fall of the elasticity of demand for oil.
B) the growth in the number of oil buyers.
C) OPEC members failing to produce the output that was agreed upon.
D) a sharp rise in the demand for oil.
Correct Answer:
Verified
Correct Answer:
Verified
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