Saristroblesli Saristroblesli

23-04-2016
Business

contestada

Explain why member firms of a cartel like OPEC have incentives to agree to a low cartel production level and then produce more than its quota.

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andriansp andriansp

03-05-2016

Because the members of OPEC are dealing with oils as their main selling commodities.

The thing is, oil is an un-renewable natural resources , well not unnecessarily un-renewable, but it took hundred of millions of years for earth to produce a new oil.

So the OPEC members have to be really careful in maintaining their quota. And also, if they produce more, the price of the oils will drop.

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bobbyandskylabe bobbyandskylabe

24-02-2019

A.

Its leaders were arrested and imprisoned in American jails.

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