A cartel arrangement is likely to be successful for its members only if it can
A) assign sales to specific members.
B) keep new firms from entering the industry.
C) prevent firms not in the cartel from marketing close substitutes.
D) do all of the above.
Question 2
People often make economic decisions they later regret, which shows
A) they failed to acquire additional information up to the point where expected marginal benefit equals expected marginal cost.
B) they failed to behave rationally.
C) they failed to invest as much as they ought to have invested in information.
D) none of the above.
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