The OPEC marketing policy of fixing minimum price allows members to?

A. sell above minimum price
B. sell below minimum price
C. determine the price and quantity to sell
D. negotiate price with customers

Correct Answer:

Option A – sell above minimum price

Explanation

When OPEC fixes a minimum price for the sale of its products, it enables its members to not sell below the minimum price. This means the members of the organization can sell at a higher price but not lower than the stated/fixed price.