Usually, we think of cheating as a bad thing. But in this chapter, cheating turns out to be a very good thing in some important cases.
a. Who gets the benefit when a cartel collapses through cheating: consumers or producers?
b. Does this benefit usually show up in a lower price, a higher quantity, or both?
c. Does cheating increase consumer surplus, producer surplus, or both?
d. So, is cheating good for the cheaters or good for other people?