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Homework answers / question archive / How are the contestable market model and the cartel model of oligopoly related? a) Firms act as perfect competitors in both models

How are the contestable market model and the cartel model of oligopoly related? a) Firms act as perfect competitors in both models

Economics

How are the contestable market model and the cartel model of oligopoly related?

a) Firms act as perfect competitors in both models.

b) Firms earn profits in both models.

c) Firms face barriers to entry in both models.

d) Firms react to other firms when setting their prices in both models.

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