The Organization of the Petroleum Exporting Countries (OPEC)is an Example

question 204

Multiple Choice

The Organization of the Petroleum Exporting Countries (OPEC) is an example of a ________.

• A) duopoly that produces differentiated products
• B) monopoly
• C) duopoly that produces homogeneous products
• D) cartel

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Definitions:

Implemented Decision

A decision that has been put into action within an organization or strategy.

Cost-Benefit Analysis

Cost-benefit analysis is a financial decision-making process in which the costs of taking an action are compared to the benefits that action will provide.

Expected Benefits

Anticipated advantages or improvements resulting from a particular action, investment, or decision.

Implementing Alternative

The process of executing or applying a different option or strategy, typically to solve a problem or improve a situation.