One of the reasons why a wheat cartel would not be as successful as OPEC is that
A) there are many more wheat-producing countries than oil-producing countries.
B) there are more wheat substitutes than oil substitutes.
C) there is no competition legislation against wheat cartels.
D) there is stronger competition legislation against wheat cartels than against OPEC.
E) there are solid barriers against new entrants into a wheat cartel.

Question

Quizplus · Accepted Answer

There are more wheat substitutes than oil substitutes, meaning that there would be more competition for a wheat cartel to contend with. OPEC has more control over the oil market because there are fewer substitutes for oil.

One of the Reasons Why a Wheat Cartel Would Not