(Answered) 1 in an economy in which resources can move among

Economics

1. "In an economy in which resources can move among industries with relative ease, a cartel attempting to maximize short-term profits will sow the seeds of its own destruction." Explain.

2. How would a cartel in a market for a network good collude on price? Explain.

3. Suppose that the managers of a firm allowed their internal departments to act as little monopolies or suppose that the managers paid their workers more than the labor market would bear. What would happen in capital markets? To the firm?

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