If a market is organized by a cartel, we can expect
A.
normal profits for all cartel firms.
B.
an incentive for cartel firms to cheat on the cartel agreement.
C.
profit maximization by individual firms in the cartel.
D.
allocative efficiency.
E.
perfectly competitive prices.
Exam No： AP Micro Practice Test 4 Year：2024 Question No：29
Answer:
B
Knowledge points:
3.5 Profit Maximization
4.1 Introduction to Imperfectly Competitive Markets
4.5 Oligopoly and Game Theory
Solution:
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