write a one page paper discussing the impact on the oil market if Saudi Arabia dramatically increase the quantity of oil it produces and sells each year.

For this assignment you are to write a one page paper discussing the impact on the oil market if Saudi Arabia dramatically increase the quantity of oil it produces and sells each year. Specifically, address how this will effect market quantity, market price, and the amount of profit Saudi Arabia and other oil producers make selling oil. Assume that oil production is an oligopoly market where there are only a few firms and they all sell the same product (commodity).