Explain Why Member Firms of a Cartel Like OPEC Have

question 67

Essay

Explain why member firms of a cartel like OPEC have incentives to agree to a low cartel production level and then produce more than its quota.

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Definitions:

Physical Therapist

A healthcare professional specialized in diagnosing and treating individuals of all ages, who have medical problems or health-related conditions that limit their abilities to move and perform functional activities in their daily lives.

Range-Of-Motion Exercises

Physical activities designed to improve or maintain the flexibility and mobility of joints through stretching and movement.

ROM

ROM stands for Range of Motion, which is the full movement potential of a joint, usually its range of flexion and extension.

Stabilize

To make steady; firmly fixed; constant.