Many countries have tried to raise prices of their exports when they have a controlling position...

Many countries have tried to raise prices of their exports when they have a controlling position in the market ( such as China with rare earth materials) or with others by forming a cartel (such as OPEC). How do they do it and why does this method work in the short run but fail in the long run?

Expert Solution

Rahul Sunny answered 1 year ago

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