A Cartel Will Break Down More Easily If

question 106

Multiple Choice

A cartel will break down more easily if

• A) there are only a few members.
• B) industry demand is very stable.
• C) market prices can be observed easily.
• D) there are many entrants in the industry.

Analyze the role and requirements of documentation in goods-in-bailment and other sales contracts.

Examine the Uniform Commercial Code’s (UCC) definitions and treatment of merchants compared to non-merchants.

Determine when and how risk of loss transfers in sales transactions depending on contract specifics.

Interpret the enforceability of verbal contracts and the significance of written confirmations under the UCC and CISG.

---

Definitions:

Payoff

The return or reward received from an investment or action.

Nash Equilibrium

A concept in game theory where each player's strategy is optimal given the strategies of all other players, leading to a situation where no player can benefit by changing strategies unilaterally.

Dominant Strategy

A strategy in game theory that yields the best outcome for a player, regardless of what strategies other players choose.

Nash Equilibrium

A concept in game theory where each player's strategy is optimal, given the strategies of other players, and no player has an incentive to deviate unilaterally.