|
GDB needed
|
06-07-2011, 04:47 PM
The major oil producing countries had made a cartel named “OPEC” (oil producing and exporting countries) in 1960. OPEC exports oil to rest of the world; there are significant problems for entrance in the market for oil. In which market structure this case falls and why the demand curve of oil is relatively inelastic?
 mileys30:
06-08-2011, 02:44 AM
[B]Market structure: oligopoly
Oil Industry lies in the oligopolistic market structure which has few no of sellers in the market and people are bound to fulfill their needs through this limited supply, so price rise does not effect much on their demand. secondly the oligopolists are well aware of moves. That's why demand curve of oil is relatively inelastic.[/B] |
|
« Next Oldest | Next Newest »
|
| Possibly Related Threads… | |||||
| Thread | Author | Replies | Views | Last Post | |
| urgently needed LLB FIRST YEARS SOLVED PAPERS | Aamir khan1 | 1 | 4,055 |
04-11-2012, 11:28 PM Last Post: Xpert |
|
| help needed ! | mt_sh | 0 | 1,100 |
11-15-2011, 07:13 AM Last Post: mt_sh |
|
| PlzzzZZZZZ SolVe This ASssignmnt...PlzzzZZZZ urGentLy NeEded..... | Monaaa | 0 | 1,890 |
11-10-2011, 10:20 PM Last Post: Monaaa |
|
| CS 506 assignment #1 help needed! | mt_sh | 10 | 3,998 |
10-31-2011, 06:58 AM Last Post: mt_sh |
|
| Hrm 624(Conflict managment )Assignmnt 2 solution needed | diya ali | 2 | 1,865 |
06-22-2011, 02:24 AM Last Post: Xpert |
|
| assignment needed MCM 310 | Ali-k | 0 | 2,263 |
06-07-2011, 04:42 PM Last Post: Ali-k |
|
| CS401 Assignment # 2- Help needed | Anya | 6 | 3,692 |
06-05-2011, 07:22 PM Last Post: Vuhelper |
|
| mth601 : solution needed | nisha | 0 | 1,592 |
02-05-2011, 05:22 AM Last Post: nisha |
|
| CS502 assignment # 2-Help needed | Anya | 3 | 2,929 |
11-28-2010, 03:21 AM Last Post: Xpert |
|
| ALGORITHMS assignment needed AS EARLY AS POSSIBLE..... | ANI | 1 | 2,452 |
11-28-2010, 03:20 AM Last Post: Xpert |
|
