The South American cocaine industry consists of several “families” that obtain the raw material, refine it, and distribute it to the USA. There are only about three large families, but there are several small families. What market structure does the industry most resemble? What predictions based on the market structures can be made about the cocaine business? How do you explain the lack of wars among the families?
The South American cocaine industry consists of several “families” that obtain the raw material, refine it, and distribute it to the USA. There are only about three large families, but there are several small families. What market structure does the industry most resemble? What predictions based on the market structures can be made about the cocaine business? How do you explain the lack of wars among the families?
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter9: Monopoly
Section: Chapter Questions
Problem 3QFR
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The South American cocaine industry consists of several “families” that obtain the raw material, refine it, and distribute it to the USA. There are only about three large families, but there are several small families. What market structure does the industry most resemble? What predictions based on the market structures can be made about the cocaine business? How do you explain the lack of wars among the families?
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