Multiple Choice
Which of the following statements is FALSE?
A) Cartels only form among members of an oligopoly.
B) A cartel might form if members believe they can increase profits by coordinating activity.
C) Members of a cartel produce less output than that produced in a competitive market.
D) Cartel members often have an incentive to cheat.
Correct Answer:
Verified
Correct Answer:
Verified
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