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Author Question: Each firm in a cartel has an incentive to chisel because market price exceeds a. marginal cost. b. ... (Read 117 times)

nummyann

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on: Jul 1, 2018
Each firm in a cartel has an incentive to chisel because market price exceeds
 a. marginal cost.
  b. average cost.
  c. average variable cost.
  d. average fixed cost.

Question 2

All of the following are problems associated with maintaining a cartel except
 a. cartels are illegal.
  b. a large amount of information is needed to coordinate a cartel.
  c. profits are not maximized by a cartel so it will evolve into a monopoly.
  d. each member of the cartel has an incentive to chisel by expanding output.


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sabina576

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

c


nummyann

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

xthemafja

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Reply 3 on: Yesterday
Excellent

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