A Cartel Is More Likely to Be Successful When

question 99

Multiple Choice

A cartel is more likely to be successful when:

• A) ?rms produce highly differentiated products.
• B) there are no barriers to entry or exit of ?rms.
• C) there are many ?rms in the industry.
• D) demand and costs in the industry are stable.

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Definitions:

Real Property

Land and anything permanently attached to it, including buildings and natural resources.

Permanently Attached

Items that are fixed securely to a property in such a way that removing them would cause damage to the property or the items themselves.

Irrevocable Right

An irrevocable right refers to a legal entitlement or permission that cannot be withdrawn, cancelled, or revoked by the grantor once granted.

License

A revocable right to temporarily use another’s property.