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27 February, 04:29

A cartel is likely to last longer ifA) more new firms enter the market. B) the profits of participating members are relatively stable. C) market prices vary more over time. D) there are more firms in the industry.

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  1. 27 February, 05:51
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    Answer: Option B

    Explanation: A cartel can be defined as an agreement between two major manufacturers in an industry, that has been implemented with the intention of maintaining high prices and restricting competition.

    Thus, if the profits of both the parties in the agreement remain stable there is a high chance that cartel will last longer as they will both get profits and there are lesser chances for conflicts.

    Hence, option C is correct.
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