opinions on iran oil conflict

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Ally Wells answered 1 year ago

The oil ministers of Brazil and Iran have agreed to restrict their output in order to...

The oil ministers of Brazil and Iran have agreed to restrict their output in order to raise prices and increase profits. The countries have to choices: to stick to their collusive agreement or to cheat. Their payoff matrix is in billions of dollars is as follows: Iran Brazil Collude Cheat Collude 10,10 5,15 Collude 15,5 7,7 (a) What is a dominant strategy? Does Saudi Arabia have a dominant strategy in this game? Explain your answer. (b) Which outcome maximizes joint...

There are two oil producers, Saudi Arabia and Iran. The market price will be $60/barrel if...

There are two oil producers, Saudi Arabia and Iran. The market price will be $60/barrel if the total volume of sales is 9 million barrels daily, $50 if the total volume of sales is 11 million barrels daily, and $35 if the total volume of sales is 13 million barrels daily. Saudi Arabia has two strategies; either produce 8 million barrels daily or 6 million. Iran has two strategies; either produce 3 million barrels daily or 5 million. Assume for...

Iran supplies 10% of the world market in Crude oil. The market demand for Crude is...

Iran supplies 10% of the world market in Crude oil. The market demand for Crude is price-inelastic, with εCC = -0.25. The Ayatollah has come up with a new idea – “we’ll withhold half of our oil from the market, raise price and get more revenue, given that demand is so inelastic. You are the economic advisor to the Ayatollah. a)Is the Ayatollah right? b)Explain your answer to (a).

Major geo-political events such as the Iran-Iraq war, for example can cause sudden disruptions to oil...

Major geo-political events such as the Iran-Iraq war, for example can cause sudden disruptions to oil supplies. What are two strategies that governments or firms can use to reduce the economic risks that these disruptions would otherwise pose to their businesses or societies? Explain in words how each of the strategies you mentioned above accomplish their goal of risk reduction (i.e., how do they reduce the risk from shocks to oil supplies?).

If the U.S. directed airstrikes against Iran, shutting down Iranian oil exports, how would this impact...

If the U.S. directed airstrikes against Iran, shutting down Iranian oil exports, how would this impact the following items and explain? a) Would the world demand curve for crude oil: Shift to the right, shift to the left, or stay the same b) World supply curve for crude oil: Shift to the right, shift to the left, or stay the same c) U.S. demand curve for crude oil: Shift to the right, shift to the left, or stay the same...

Compare Nigeria and Iran institutions.

Discuss the trade and financial sanctions on Iran.

discuss the relationship between your own opinions and the facts and opinions in the sources you...

discuss the relationship between your own opinions and the facts and opinions in the sources you will use in your research paper. Should you put any of your opinions in a research paper? If so, how should the sources relate to your own opinions? Which should seem to control the argument of your paper: your opinions or those of your sources?

a. Suppose a revolution in Iran results in a significant reduction in the world’s supply of...

a. Suppose a revolution in Iran results in a significant reduction in the world’s supply of oil. Instructions: Drag the appropriate line in the correct direction to show the short-run effect on the AD/AS model. This will: reduce output and raise the price level. increase output and raise the price level. increase output and lower the price level. reduce output and lower the price level. b. Suppose the government takes no action to help the economy. Eventually, the price...

Match the conflict scenario to the type of conflict that fits best (relationship or task conflict)....

Match the conflict scenario to the type of conflict that fits best (relationship or task conflict). - A. B. Ben and Jerry are two members of a healthcare team who are working with Patient Smith on recovering from an auto accident. Ben, the nurse practitioner, believes Mr. Smith should take his pain medication after his physical therapy session, and Jerry, his physical therapist, believes the patient should take his pain medication before his...

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