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The New York Times (Nov. 30, 1993) reported that "the inability of OPEC to agree last week to cut production has sent the oil market into turmoil...[leading to] the lowest price for domestic crude oil since June 1990."
A. Why were the members of OPEC trying to agree to cut production?
B. Why do you suppose OPEC was unable to agree on cutting production? Why did the oil market go into "turmoil" as a result?
C. The newspaper also noted OPEC's view "that producing nations outside the organization, like Norway and Britain, should do their share and cut production." What does the phrase "do their share" suggest about OPEC's desired relationship with Norway and Britain?
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The monetary return to an additional year of experience will be higher for workers in the primary sector of the labor market than for those in the secondary sector. A union’s contract zone will be wider the more inelastic is the labor demand curve.
If air quality improves however re are no effects on aggregate production or on market costs of final goods and services. Illustrate what would happen to GDP.
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Suppose the economy's production function is Y = A(300N – N^2). The marginal product of labor is MPN = A(300 - 2N). Suppose that A = 10. The supply of labor is NS = 0.05w + 0.005G. If G is 26,000, what are the real wage, employment, and output?
Converse the positive also negative contributions of FDI inflow to the competitive benefit of host countries with regard to the subsequent matters
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A $1.00 increase in the price of a restaurant meal results in a drop in quantity demanded of 5 meals.
Provide a short example of how the law of diminishing marginal utility applies to a real-life situation. In your answer, explain why utility from consumption of these specific good or service increases quickly initially, peaks, and may eventually lea..
What exchange is Netflix listed? What are the listing requirements for that exchange and how does Netflix compare to those requirements?
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