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navik [9.2K]
2 years ago
7

What happens to the market outcome if cartel members cheat on the collusive agreement?

Business
1 answer:
sdas [7]2 years ago
7 0

If a single company cheats on the cartel agreement then the unmarried company can grow its profit.

A cartel agreement is a settlement between competitions with the aim of hindering or proscribing competition or creating fake competition. Cartel agreements also can exist between providers and consumers, such as an instance retail fees.

A few examples of a cartel encompass The enterprise of the Petroleum Exporting Countries (OPEC), an oil cartel whose members manage forty four% of worldwide oil production and 81.5% of the world's oil reserves.

A cartel is an illegal settlement between competition that restricts competition. Cartels are often hard to discover due to the fact the cartel members have a not unusual hobby of keeping the agreement secret.

Learn more about cartel agreement here: brainly.com/question/16147138

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