Refer to Figure 12.1. Assume the firms have formed a cartel. If the cartel is maximizing profits, the cartel's profits are:

Refer to Figure 12.1. Six firms that produce chewing gum have formed a cartel. The cartel faces the market demand curve given by D. To maximize profits, the cartel should produce ________ packs of chewing gum and the price should be ________.

A cartel is:

Oligopolists maximise their total profits by forming a cartel anf acting like monopolist. A: right. B: wrong.

9. An association of independent firms or nations who attempt to control price or supply of a commodity (such as oil) through mutual restraint on production is known as _____. A: concern B: syndicate C: trust D: cartel

市场组织按其行为目标可以分为以下几种主要类型： A: 生产者卡特尔(Cartel) B: 一般生产者组织 C: 国际研究机构 D: 国际组织

What is the defining characteristic of imperfect competition?() A: The<br/>firms are subject to government regulation. B: The<br/>firms have some degree of market power. C: The<br/>firms choose to collude. D: The<br/>firms act like a cartel.

Games that are played more<br/>than once generally () A: lead to outcomes dominated<br/>purely by self-interest. B: lead to outcomes that do not<br/>reflect joint rationality. C: encourage cheating on cartel<br/>production quotas. D: make collusive arrangements<br/>easier to enforce.