When oligopolistic firms in an industry form a cartel, then it is most likely that
A) both industry output and prices will increase.
B) both industry output and prices will decrease.
C) industry output will increase while prices will decrease.
D) industry output will decrease while prices will increase.
D
Economics
You might also like to view...
Refer to the figure above. What is the initial equilibrium wage rate and employment level?
A) $60 and 20 units of labor B) $40 and 40 units of labor C) $50 and 40 units of labor D) $20 and 40 units of labor
Economics
How is dollarization different from monetary union?
What will be an ideal response?
Economics