Assuming price is 80 demand and total supply is 32 opec, Business Economics

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Assuming price is 80 demand and total supply is 32 opec

Assuming: Price is $80 demand and total supply is 32, OPEC supply is 13 and Non-OPEC supply is 19. Short run world demand Price elasticity is -0.5, long run is -0.30. The short run OPEC price elasticity is .05 and the long run is 0.30. What is the long run demand and the long run non-OPEC supply?

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Business Economics: Assuming price is 80 demand and total supply is 32 opec

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Business Economics: Assuming price is 80 demand and total supply is 32 opec

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