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A cartel is a group of firms who collude together for the purpose of avoiding a competitive market in order to create economy profit for themselves. A real life example of a cartel is OPEC (Organization of Petroleum Exporting Countries). Theoretically cartels are very unstable because they are an informal agreement to collude: to sell at a higher price together, rather than compete down the price. It is very unstable because there is no binding agreement that one of the firms will not undersell the other and capture the entire market share.
Cartels are a classic example of game theory that describes the prisoner's dilemma.
A cartel is a collection of businesses or countries that act together as a single producer and a fundamental economic concept that describes the total amount.
What else can I help you with?
What describes an agreement among business making the same product to limit production and keep prices high?
Cartel
Which of the following describes an agreement among businesses making the same product to linit production and keep prices high?
Cartel
Is cartel masculine or feminine?
Is cartel masculine or feminine
What best describes a cartel?
A cartel is a group of firms who collude together for the purpose of avoiding a competitive market in order to create economy profit for themselves. A real life example of a cartel is OPEC (Organization of Petroleum Exporting Countries). Theoretically cartels are very unstable because they are an informal agreement to collude: to sell at a higher price together, rather than compete down the price. It is very unstable because there is no binding agreement that one of the firms will not undersell the other and capture the entire market share.Cartels are a classic example of game theory that describes the prisoner's dilemma.A cartel is a collection of businesses or countries that act together as a single producer and a fundamental economic concept that describes the total amount.
What best describes cartel?
A cartel is a group of firms who collude together for the purpose of avoiding a competitive market in order to create economy profit for themselves. A real life example of a cartel is OPEC (Organization of Petroleum Exporting Countries). Theoretically cartels are very unstable because they are an informal agreement to collude: to sell at a higher price together, rather than compete down the price. It is very unstable because there is no binding agreement that one of the firms will not undersell the other and capture the entire market share.Cartels are a classic example of game theory that describes the prisoner's dilemma.A cartel is a collection of businesses or countries that act together as a single producer and a fundamental economic concept that describes the total amount.
Why cartel fails?
cartel is formed by few sellers when they want to maximise profit ,what is the advantage of forming a cartel?
What is the duration of The Cartel?
The duration of The Cartel is 1.5 hours.
Is cartel feminine?
No, the word "cartel" is masculine in Spanish.
How tall is Macy Cartel?
Macy Cartel is 5' 8".
How tall is Mike Cartel?
Mike Cartel is 5' 9".
When was Oaxaca Cartel created?
Oaxaca Cartel was created in 197#.
When was Milenio Cartel created?
Milenio Cartel was created in 199#.
