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A group of sellers decide to create a cartel similar to OPEC, what quantity and price do you think they would set. Show in a
A group of sellers decide to create a cartel similar to OPEC, what quantity and price do you think they would set. Show in a graph how an Oligopoly will create an artificial shortage and by doing so what does that do to price? Give 2 examples of Oligopoly firms where you see game theory played out
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
