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One of the reasons cartels are considered unstable is that

pgakui

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One of the reasons cartels are considered unstable is that

One of the reasons cartels are considered unstable is that

▸ individual members of the cartel have an incentive to violate the cartel agreement.

▸ it is inefficient to manage individual firms collectively.

▸ there are wide fluctuations in price as cartel members vary their output.

▸ consumers seek out substitutes to the cartel product.

▸ member firms reduce their investment, thereby becoming uncompetitive over time.

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Microeconomics

Edition: 17^th

Author: Ragan

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pgakui Author

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This helped my grade so much Perfect

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