The Organization of the Petroleum Exporting Countries [OPEC] Serves the Global

question 67

Multiple Choice

The Organization of the Petroleum Exporting Countries [OPEC] serves the global oil market.Suppose Saudi Arabia,an OPEC member country,produces 50% of the oil supplied to this market.The elasticity of market demand is 0.4 and the elasticity of supply for the other eleven OPEC countries is 1.What is the elasticity of demand for oil produced by Saudi Arabia?

• A)0.4
• B)2.4
• C)1.8
• D)3.4

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Definitions:

Red Blood Cells

Cells in the blood that carry oxygen from the lungs to the body's tissues and return carbon dioxide from tissues back to the lungs.

Megakaryocyte

A large bone marrow cell responsible for the production of blood thrombocytes (platelets), which are critical for clotting.

Thrombocyte

A blood cell component, also known as a platelet, involved in blood clotting.

Coagulation

The process by which blood changes from a liquid to a gel, forming a clot, which is essential for stopping bleeding.