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Explain Why OPEC Is Caught in a Prisoner's Dilemma

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Explain why OPEC is caught in a prisoner's dilemma?


Definitions:

Occasion Time

A specific moment or period designated for an event or activity, influencing consumer purchasing behavior.

Flow Time

The concept of being fully immersed and engaged in an activity, often leading to a sense of enjoyment and loss of time awareness.

Relationship Marketing

A marketing strategy focused on building long-term engagement and loyalty with customers through personalized interactions and communications.

Customer Service

The assistance and advice provided by a company to those people who buy or use its products or services.

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