Society, Politics & Law
Pluralism in Economics: inequalities, innovation, environment
...geographies or bids in auctions. In the case of cartels, there are verbal agreements, contracts or other strategies to maintain firms working through the same conditions, because a firm can gain extra profit by defecting whilst the other participants in the cartel maintain their agreed behaviour. For example, if oligopolists decide to restrict output to increase prices...
Level 2: Intermediate
15 hrs