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There are very elaborate and strict laws prohibiting collusion in oligopoly markets. (Some of these laws are discussed in portions of Chapter 11 that you

There are very elaborate and strict laws prohibiting collusion in oligopoly markets. (Some of these laws are discussed in portions of Chapter 11 that you are not assigned to read.) According to the prisoners' dilemma model, firms in an oligopoly have a dominant strategy to cheat on any collusive agreement. In other words, the model predicts that it will not be possible to form and maintain a cartel. What is the flaw in the prisoners' dilemma model; what is different from the model in an oligopoly market structure that could enable a cartel to form and persist

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