the opec oil cartel has difficulty maintaining high prices in the long run because the supply of oil is more inelastic in the long run then in the short run. whether the statement is true or false,justify your answer.
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The OPEC oil cartel has difficulty maintaining high prices in the long run because the supply of oil is more inelastic in the long run than in the short run False If a country has a Lower opportunity cost than its potential trading partner, the country should decide to be self-sufficient
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