Which one of the following factors reduces the likelihood that a cartel agreement will lead to higher producer profit?
A) significant barriers to entry into the cartelized market
B) the development of substitutes for the good produced by the cartel
C) government restrictions that limit competition from new rivals
D) a small number of sellers involved in the cartel agreement
Correct Answer:
Verified
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Q199: A market situation where a small number
Q200: Which of the following is an obstacle
Q201: A profit-maximizing monopolist will continue expanding output
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