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This document discusses collusion and cartels. It defines a cartel as a formal organization of firms in an industry that transfers some decision making to a central body. There are two main types of cartel arrangements: centralized cartels, which give the central association complete control over member firms, and market-sharing cartels, which give the central association less control. Oligopoly is a market structure with few sellers that dominate sales and make entry difficult. Cartels formally agree betwe

Author

David Jack

Language

EN