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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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