Problem
What are the gains from collusion? Why is there an incentive for each member of a cartel to cheat by producing more than the agreed-on amount? What is the "prisoner's dilemma" and how is it related to the problem of cheating? What are the other problems facing cartels?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.