OPEC Is an Example of A

question 52

Multiple Choice

OPEC is an example of a:

• A)monopsony.
• B)cartel.
• C)monopoly.
• D)duopoly.

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Definitions:

Investment

The process of distributing assets, often funds, in anticipation of earning revenue or profit.

Desired Return

The specific amount of profit a company aims to achieve on its investment or project, often expressed as a percentage.

Target Cost

The market-driven price that a product must meet or go below, after subtracting the desired profit margin, to remain competitive.

Competitor's Product

A product or service offered by a business rival in the same market, directly competing with one's own product or service offering.