The Levels of Profits in a Cartel Are

question 66

Multiple Choice

The levels of profits in a cartel are

• A) initially high,but then decrease as substitute goods emerge.
• B) initially low,but then decrease as the level of competition increases.
• C) initially low,but then increase as the level of competition increases.
• D) near the monopoly level of profits.
• E) zero.

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Definitions:

Karma

A concept in Hinduism, Buddhism, and Jainism which refers to the cycle of cause and effect where an individual's actions, whether good or bad, influence their future.

Social Cynicism

A generalized negative attitude towards people and society, often characterized by a belief in the selfishness and deceitfulness of others.

Social Flexibility

The ability to adapt one's behavior and attitudes to different social situations or to changes in the social environment.

Diffusion Of Responsibility

A sociopsychological phenomenon wherein an individual is less likely to take action or feel a sense of responsibility in the presence of a large group of people.