OPEC successfully raised the world price of oil in the 1970s and early 1980s, primarily due to_________.
A.
a reduction in the amount of oil supplied and a world-wide oil embargo
B.
a reduction in the amount of oil supplied and an elastic demand for oil
C.
a world-wide oil embargo and an elastic demand for oil
D.
an inelastic demand for oil and a reduction in the amount of oil supplied