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ECON MACRO 5th Edition by William McEachern
Edition 5ISBN: 978-1305631946ECON MACRO 5th Edition by William McEachern
Edition 5ISBN: 978-1305631946 Exercise 7
COLLUSION AND CARTELS Why would each of the following induce some members of OPEC to cheat on their cartel agreement?
a. Newly joined cartel members are poor countries.
b. The number of cartel members doubles from 12 to 24.
c. International debts of some members grow.
d. Expectations grow that some members will cheat.
a. Newly joined cartel members are poor countries.
b. The number of cartel members doubles from 12 to 24.
c. International debts of some members grow.
d. Expectations grow that some members will cheat.
Explanation
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Cartel:
Cartel refers to the associatio...
ECON MACRO 5th Edition by William McEachern
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