What condtions are necessary for a cartel to succeed? (could be more than one answer choice)...

What condtions are necessary for a cartel to succeed? (could be more than one answer choice)

a)		There must be potential for monopoly power
b)		The market must be for a commodity, like oil or corn.
		c) Members must adhere to agreed price and quantity decisions
d)		The market must be for an illegal good, like drugs.
e)		The elasticity of demand for the good must be below 2.
f)		There cannot be more than 5 firms in the market.

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Expert Solution

Rahul Sunny answered 1 year ago

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