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Why opec often has difficulty keeping output low and prices

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Reference no: EM132947472

Why OPEC often has difficulty keeping output low and prices high?
Public utility companies (you may stay with the topic of oil/gas) customarily charge more to business customers than to residential customers. Discuss this price discrimination as it relates to gas and oil.
What kind of changes do you predict will impact the oil industry based on the following trends in new energy sources: fracking, hydrogen fuel cells, biomass or biofuel, solar, or a break-through in car batteries for electric cars? What are these market types, and how does that matter to the pricing and production of oil.
For all industries, state which of the four market types it is (Perfect Competition, Monopoly, Monopolistic Competition, or Oligopoly).

Reference no: EM132947472

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