Author Question: Cartels can more easily detect cheating by cartel members if the products sold by each member are ... (Read 220 times)

jake · **on:** Jul 1, 2018

Cartels can more easily detect cheating by cartel members if the products sold by each member are largely homogeneous.

As product quality varies, the observed prices charged by cartel members may be due to differences in the products, or they may be due to cheating. Which of the following goods would more difficult to monitor for potential cheating? A) Aluminum ingots
B) Industrial concrete
C) Steel beams
D) Luxury yachts

Question 2

A few sellers may behave as if they operate in a perfectly competitive market if the market demand is:

A) highly inelastic.
B) very elastic.
C) unitary elastic.
D) composed of many small buyers.