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    Question

    OPEC is an example of 

    A producer's cooperative Correct Answer Incorrect Answer
    B cartel Correct Answer Incorrect Answer
    C producers trust Correct Answer Incorrect Answer
    D marketing board Correct Answer Incorrect Answer

    Solution

    In the oil and gas industry, the Organization of the Petroleum Exporting Countries (OPEC) is often used as an example of a cartel. A cartel is a formal agreement between a group of producers of a good or service to control supply or to regulate or manipulate prices.

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