The cartel of oil-producing nations (opec) once controlled about 80% of the world petroleum market, but opec's market share has declined to about half of its former level. this outcome is a good example of how firms may have:
a) relatively high short-run monopoly power that strengthens in the long run.
b) relatively high short-run monopoly power that declines in the long run.
c) relatively low short-run monopoly power that strengthens in the long run.
d) relatively low short-run monopoly power that declines in the long run.

Lucido products markets two computer games: claimjumper and makeover. a contribution format income statement for a recent month for the two games appears below: claimjumper makeover total sales $ 30,000 $ 70,000 $ 100,000 variable expenses 20,000 50,000 70,000 contribution margin $ 10,000 $ 20,000 30,000 fixed expenses 24,000 net operating income $ 6,000 required: 1. compute the overall contribution margin (cm) ratio for the company.. 2. compute the overall break-even point for the company in dollar sales. 3. complete the contribution format income statement at break-even point for the company showing the appropriate levels of sales for the two products. (do not round intermediate calculations.)