The high prices charged by cartels:
A) serve as a barrier to entry, allowing the cartel to earn above-normal profits.
B) give an incentive for new firms to enter the industry, causing an expansion of industry output and lower prices.
C) reduce the incentive for increased conservation.
D) All of the answers are correct.

Question

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The Answer of The high prices charged by cartels:
A) serve as a barrier to entry, allowing the cartel to earn above-normal profits.
B) give an incentive for new firms to enter the industry, causing an expansion of industry output and lower prices.
C) reduce the incentive for increased conservation.
D) All of the answers are correct.

The High Prices Charged by Cartels