With ,More Restrictions Are Imposed,and There Is More Face-To-Face Contact

question 12

Short Answer

With ,more restrictions are imposed,and there is more face-to-face contact between offenders and probation officers.

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Definitions:

Cartels

Groups of independent market participants who collude to control prices and output in an industry to maximize their collective profits.

Inelastic Demand

A situation where the demand for a good or service changes very little in response to changes in price.

Cournot Model

A model of oligopoly in which firms choose their output levels simultaneously, assuming the output of the rivals as given, to maximize their own profit.

Collude

To come to a secret understanding for a harmful purpose; conspiracy between firms to fix prices or otherwise restrict competition.