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The South American cocaine industry consists of several families that obtain the raw material, refine it and then ship it to the U.S. It is not a difficult business to enter, particularly on the retail end where drug dealers sell the drug to consumers in the U.S. What would you predict would happen to the economic profits of the drug dealer? Suppose the family in South America form a cartel? What is the result of the cartel?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9495521

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