Author Question: What two conditions must be present for a cartel to work? What will be an ideal ... (Read 177 times)

Mollykgkg · **on:** Jun 29, 2018

What two conditions must be present for a cartel to work?

What will be an ideal response?

Question 2

National income is derived from gross domestic product by

A) adding personal income and transfer payments to gross domestic product.
B) subtracting depreciation from gross domestic product.
C) subtracting retained earnings from gross domestic product.
D) adding personal taxes and depreciation to gross domestic product.

matt · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

(1.) The demand for the cartel's product must be inelastic.
(2.) The members of the cartel must play by the rules.

Answer to Question 2

B