Economics 1st Edition by Dean Karlan,Jonathan Morduch

تمرين 12

The Organization of the Petroleum Exporting Countries (OPEC) is a cartel of 12 countries that controls roughly two-thirds of the world's oil production. The cartel gives countries quotas for production. Why might a country be tempted to produce above quota for a year? How do you think other OPEC countries might respond if it did so?