Why Was OPEC Unable to Maintain High Oil Prices in the Long

question 12

Multiple Choice

Why was OPEC unable to maintain high oil prices in the long run?

• A)Demand and supply are both elastic in the long run compared to the short run.
• B)Demand and supply are both inelastic in the long run compared to the short run.
• C)Demand is elastic and supply is inelastic in the long run compared to the short run.
• D)Demand is inelastic and supply is elastic in the long run compared to the short run.

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Definitions:

Sexual Histories

Accounts or records of an individual's sexual experiences, behaviors, relationships, and health, often discussed in medical or therapeutic settings.

Contraception Responsibility

The accountability shared between partners to effectively prevent pregnancy and protect against sexually transmitted infections.

Contraception Responsibility

The duty of individuals or couples to manage and employ methods to prevent pregnancy effectively.

Reversible Contraception

Birth control methods that can be discontinued to restore fertility, such as pills, intrauterine devices, and condoms.