In markets characterized by oligopoly,
a. collective profits are always lower with cartel arr...
In markets characterized by oligopoly,
a. collective profits are always lower with cartel arrangements than they are without cartel arrangements.
b. the oligopolists earn the highest profit when they cooperate and behave like a monopolist.
c. collusive agreements will always prevail.
d. pursuit of self-interest by profit-maximizing firms always maximizes collective profits in the market.
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