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Author Question: You read that 25 firms that grow and export peanuts to the United States decide to form a cartel. ... (Read 105 times)

sammy

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Question 1

In an oligopolistic industry, the price firms charge and the quantity they produce would be the same as if the industry were a monopoly if


◦ the market is contestable.
◦ the oligopolists behave as Cournot assumed.
◦ one of the oligopolists acts as a dominant firm price leader.
◦ the oligopolists collude.

Question 2

You read that 25 firms that grow and export peanuts to the United States decide to form a cartel. The cartel aims to raise the price of peanuts and reduce output to increase profits for the peanut growers. You predict that this cartel will probably


◦ not be successful because the number of firms is unmanageable and there are a number of good substitutes for peanuts.
◦ not be successful because there are too few firms that are trying to organize the cartel.
◦ be successful because the demand for peanuts is very elastic.
◦ be successful because it will be very easy to enforce the rules among only 25 firms.


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Marked as best answer by sammy on Apr 19, 2019

firehawk60

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sammy

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Reply 2 on: Apr 19, 2019
Excellent


cassie_ragen

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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