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I'm working on a micro economics discussion question and need support to help me learn.
Q1 Refer the above video and discuss how cartel turns oligopolies into monopoly.
Explanation & Answer
Please view explanation and answer below.
1
Cartel Influences.
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2
How cartel turns oligopolies into a monopoly.
A Cartel is basically made of investors or organizations members who come up together
and work to make the prices and output decisions of products in the market like the oil cartels
(OPEC). The rise of an oligopolistic market is all as a result of the formation of cartels in the
market to make decisions. Indeed, cartels arise in mark...
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