Econ Notes Week 5
Econ Notes Week 5 EC 2900 - 08
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EC 2900 - 08
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This 1 page Class Notes was uploaded by Kaylee Notetaker on Sunday October 2, 2016. The Class Notes belongs to EC 2900 - 08 at Wright State University taught by D.R. Fannin in Fall 2016. Since its upload, it has received 29 views. For similar materials see Global Economic, Business and Social Issue in Economics at Wright State University.
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Date Created: 10/02/16
EC 2900 Notes Week 5 collusion: cannot do in an oligopoly. It is illegal. We do not want it in the economy. Too much collusion leads to a cartel and a cartel leads to a monopoly. what’s the prisoners dilemma? when a crime is committed and the criminals are separated into two different cells; if they both stay quiet, they’ll be better off. Trying to ﬁgure out the interdependence between the relationship. • natural monopolies tend to be a good thing. • marginal revenue = marginal cost
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