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wrote...
Posts: 224
A month ago
Recall the Application about the attempt to form a salt cartel in the 19th century to answer the following question(s).


Recall the Application. One reason cited for the failure of the salt cartel was:

▸ the federal government's banning of price fixing in the salt market.

▸ foreign competition taking over the salt market.

▸ the demand for salt sharply declined in the late 19th century.

▸ new firms entering the market and underpricing the cartel.
Textbook 

Microeconomics: Principles, Applications, and Tools

Edition: 8th
Authors:
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wrote...
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A month ago
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new firms entering the market and underpricing the cartel.
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wrote...
A month ago
Smart ... Thanks!
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