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Explain Why Member Firms of a Cartel Like OPEC Have

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Explain why member firms of a cartel like OPEC have incentives to agree to a low cartel production level and then produce more than its quota.

Explain why member firms of a cartel like OPEC have incentives to agree to a low cartel production level and then produce more than its quota.

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A low cartel production level results in...

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