Multiple Choice
A reason why it is difficult for producers to maintain a cartel is that
A) the elasticity of demand for the cartel's output decreases over time.
B) producers in the cartel have the economic incentive to cheat.
C) economic profits discourage other producers from entering the industry.
D) producers in the cartel have the motivation to lower price but not to raise price.
Correct Answer:
Verified
Correct Answer:
Verified
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