Cartels Are Inherently Unstable Because

question 123

Multiple Choice

Cartels are inherently unstable because

• A) any one firm can make additional profits by selling additional output at a price below the marginal cost.
• B) of the disincentive to cheat.
• C) firms behave like perfectly competitive firms and price at the market price.
• D) any one firm can make additional profits by selling additional output at a price above the marginal cost.

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Definitions:

Industrial Workers

Workers employed in industries such as manufacturing, mining, and construction, often involving manual labor or skilled trades.

Economic Independence

A condition where a person, organization, or country can sustain themselves without relying on external financial support.

Populists

Founded in 1892, a group that advocated a variety of reform issues, including free coinage of silver, income tax, postal savings, regulation of railroads, and direct election of U.S. senators.

Bryan

Commonly refers to William Jennings Bryan, an American orator and politician known for his populist views, and his advocacy for free silver, and a three-time Democratic presidential candidate.