You are one of two member nations of OOEC: the Organization of Otter Exporting Countries, a cartel
Question:
a. If your country is able to successfully collude with the other country, how many otters will each country produce, and how much profit will each earn?
b. What is the equilibrium outcome in this game if it is only played once? Is the equilibrium outcome a good one for your country?
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Related Book For
Microeconomics
ISBN: 9781464146978
1st Edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
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