Cartel Agreements Tend to Fail

question 36

Multiple Choice

Cartel agreements tend to fail:
I. if they produce manufactured rather than natural goods.
II. if they produce natural rather than manufactured goods.
III. in the long run as demand curves become more elastic.

• A) I only
• B) I and III only
• C) II and III only
• D) III only

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Definitions:

Private Saving

The portion of disposable income that households save rather than spend on consumption.

National Saving

The sum of private and public savings in a country, representing total income not spent on consumption or government expenditures.

Silla Rulers

Leaders of the Silla Kingdom, one of the Three Kingdoms of Korea, known for unifying the Korean Peninsula in the 7th century.

Buddhist Temples

Places of worship and meditation in Buddhism, which can vary greatly in size, style, and function, depending on the region.