What two conditions must be present for a cartel to work?
What will be an ideal response?
(1.) The demand for the cartel's product must be inelastic.
(2.) The members of the cartel must play by the rules.
Economics
You might also like to view...
In 2007, foreigners hold about _____ percent of the national debt
a. 25 b. 40 c. 10 d. 3 e. 75
Economics
The World Bank operates primarily as a:
A. Deposit institution for nations' gold supplies B. Coordinator for private banks in major nations C. Lender of last resort to less developed nations D. U.S. government agency that supervises banks worldwide
Economics