managerial economic

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1)whatwouldhappenifallmembersofopecjointedtogetherandreducedthesupplyofoilbyso percent? 2)theaverageoilpriceislistedasfollow: basedontheinformationprovidedabove,whatisthepriceelasticityofdemandandsupplyfor thedatesmentionedabove?youmaycompareyourresultswiththevaluescitedinthearticle andexplainwhythedivergenceinthevalues. 3)despiteofthefactthatoilproducingcountriesarefacinglowpriceelasticityofdemandfortheir product,theymaynotbewellingtoincreasethepricebeyondcertainlimit.why?
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