The Problems Encountered by the OPEC Cartel Can Be Explained

Multiple Choice

The problems encountered by the OPEC cartel can be explained by:

A) relatively high barriers to entry existing in the petroleum industry.
B) the fact that most OPEC producers had similar levels of reserves.
C) the small number of producers who made up the cartel having the same objectives.
D) the fact that OPEC did not have significant barriers to entry for new producers.