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Tanya [424]
3 years ago
11

If OPEC decided to cut oil production for the coming year, what would be the MOST LIKELY effect? A) prices would not change B) o

il prices would probably rise Eliminate C) oil prices would probably decline D) the price for substitute products would decline
Social Studies
2 answers:
Inessa05 [86]3 years ago
8 0

The correct answer is B.

According to the laws that describe the forces of supply and demand, if the quantity provided by producers decreases, and the amount demanded stays equal, there would be an excess of demand and the prices will rise in order to correct such a market desequilibrium . In fact, OPEC uses this strategy of cutting total production when they feel that prices are lowering, with the objective of enhancing them.

timurjin [86]3 years ago
6 0

Answer:

the answer is b

Explanation:

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Intense, irrational fear of something that presents little to no real risk is known as a specific phobia. Even though people with phobias may be aware that their concerns are unfounded, the mere thought of confronting the dreaded object or circumstance causes excruciating anxiety sensations.

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2 years ago
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