Suppose three firms form a cartel and agree to charge a specific price for their output. Each individual firm has an incentive to maintain the agreement because the firm's individual profits will be the greatest under the cartel arrangement
a. True
b. False
Indicate whether the statement is true or false
False
Economics
You might also like to view...
Government's monopoly on force implies that government can both protect and violate rights
a. True b. False
Economics
Which one of the following is a cash-assistance program used to fight poverty in the United States?
a. Medicaid b. food stamps c. home energy assistance d. Head Start e. Temporary Assistance to Needy Families
Economics