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37
How can someone cheat in a Gentlemen's agrmt? What about a Pooling argmt?
G: Cheater can earn short-run profit by charging a price less than that agreed upon
P: Cheater can earn short-run profits by producing a larger quantity than that agreed upon
P: Cheater can earn short-run profits by producing a larger quantity than that agreed upon
Flashcard info:
Author: savhighsmith
Main topic: Economics
Topic: History of Economics
School / Univ.: UGA
City: Athens
Published: 12.10.2010