Question

If OPEC decided to cut oil production for the coming year,what Would be MOST LIKELY efecto?
A)Prices would not change
B)oil prices would probably ti se
C)oil prices would probably decline
D)the price for substitute products would decline

Answer 1

The effect of supply and demand would cause oil prices to rise. The answer is b

Answer 2

Because of the Supply and Demand as Supply drops Demand rises which causes prices to rise so the correct answser would be B