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1. Would the lack of competition in monopoly result in the company making losses? 2. Assume your company is operating in a cartel, agreeing to

1. Would the lack of competition in monopoly result in the company making losses?

2. Assume your company is operating in a cartel, agreeing to raise prices and reduce output. If the cartel is ongoing then the game is effectively repeated. Under what circumstances would your company cheat?

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