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1. discuss the input process - from inputs to profit maximization. Illustration is required. 2.A major downfall of cartels is that they never succeed for
1. discuss the input process - from inputs to profit maximization. Illustration is required.
2.A major downfall of cartels is that they never succeed for long.
Why is this the case?
Why is there a need to form cartels? Discuss and illustrate by detailed diagrams
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