12 9 points Which of the following statements about the behavior of cartels is true? For those that are not true, why are they not true? I. Cartels are more successful when they face an elastic demand curve. II. When cartels are successful at driving up prices, new firms begin to enter the market. Ill. When a cartel cheater increases quantity beyond the profit-maximizing quantity of a monopoly, the cheater benefits itself and other cartel members. IV. As product differentiation makes it easier for firms to collude, it is in the cartel's best interest for the individual firms to be highly innovative. V. Most cartels are legal in the United States but are illegal throughout the rest of the world. BIU A - A - T X XE 12pt Paragraph