Thailand, the worlds largest rice exporter, proposed that the Asian rice exporters (Thailand, Cambodia, Laos, and Myanmar)
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Thailand, the world’s largest rice exporter, proposed that the Asian rice exporters (Thailand, Cambodia, Laos, and Myanmar) form a cartel. The Philippines said it was a bad idea.
CNN, May 6, 2008 Explain how an Asian profit-maximizing rice cartel would influence the global market for rice and the world price of rice. Is the Philippines correct?
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A rice cartel would operate as a profitmaximizing monopoly and produce the quantity at which ma...View the full answer
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