Discussion Post: Microeconomics
Recently, business headlines have highlighted the drop in oil prices due to high production in states like Texas, North Dakota, Oklahoma, etc. What do you think will be the economic impact on oil prices if the Organization of Petroleum Exporting Counties (OPEC) reduced or cut back production?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.