One of the reasons cartels are considered unstable is that
A) individual members of the cartel have an incentive to violate the cartel agreement.
B) member firms reduce their investment, thereby becoming uncompetitive over time.
C) there are wide fluctuations in price as cartel members vary their output.
D) consumers seek out substitutes to the cartel product.
E) it is inefficient to manage individual firms collectively.
Correct Answer:
Verified
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Q2: The diagram below shows a pharmaceutical firm's
Q3: The figure below shows the demand
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