Business

Business, 21.08.2019 11:30, justin5647

Explain why member firms of a cartel like opec have incentives to agree to a low cartel production level and then produce more than its quota.

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Business, 23.06.2019 01:40, ijohnh14

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.

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Business, 30.06.2019 03:00, ghimiren7443

Cartels often dissolve because their members often set a time limit as to how long the cartel should exist. their members often cheat on the cartel agreements because they have incentive to. their members often find that they do not earn as high profits from the cartel as they had hoped to. firms in a cartel face different costs than firms outside a cartel. none of the above

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Business, 19.08.2019 23:20, aliciabenitez

In a cartel, participating members can cheat bya) letting more entrants join the cartel.b) leaving the industry.c) producing a lower production level than the cartel quota.d) charging a slightly lower price and raising production.

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Social Studies, 28.08.2019 16:20, ashl3yisbored

Which of the following conditions can prolong the life of a cartel? a. there are many firms in the market that are not members of the cartel. b. there are only a few firms in the market and they all belong to the cartel. c. the cartel has no ability to punish members who cheat on the cartel. d. it is difficult to know what price any cartel member is actually charging.

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