Q. In cartels (Solved)
1. each individual firm profit maximizes
2. there may be an incentive to cheat
3. the industry as a whole is loss making
4. there is no need to police agreements
- b. there may be an incentive to cheat
1. each individual firm profit maximizes
2. there may be an incentive to cheat
3. the industry as a whole is loss making
4. there is no need to police agreements