Multiple Choice
When the market demand curve is relatively inelastic,
A) it is unrealistic for a cartel to form because profits will be lower.
B) penalties for forming an illegal cartel will be relatively low.
C) the lower the price the cartel sets, the greater the benefits to the cartel.
D) the higher the price the cartel sets, the greater the benefits to the cartel.
Correct Answer:
Verified
Correct Answer:
Verified
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