In 1973 and again in 1979, the Organization of Petroleum Exporting Countries () raised the
A.Their revenue increased because the demand for oil was income inelastiC
B.Their revenue increased because the demand for oil was price inelasti
C.Their revenue would have increased regardless of income elasticity or price elasticity because oil is an imported product for most nations.
D.Their revenue only increased because oil was already very expensiv
E.