What quantity of output and price do they try to set, when a group of oligopoly firms form a cartel? Will there be any changes in the price and quantity supplied if the cartel gets broken down?
What will be an ideal response?
By forming cartels, oligopoly firms try to set monopoly price and quantity of output. When cartels break down, quantity of output supplied increases and the market price falls.
Economics
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If you want to have $50,000 in 5 years, how much would you need to put in your savings account now if the savings account pays 3 percent interest?
What will be an ideal response?
Economics
Countries without well-developed financial systems are able to sustain high levels of economic growth
Indicate whether the statement is true or false
Economics