Oligopoly and cartelWatch
-Why is a cartel sometimes regarded as artificial monopoly?
-Would the OFT be needed if there is a sufficiently competitive environment?
Quite stuck at the moment so I would appreciate if anyone can help me on these questions. Thanks a lot!
How can there be a sufficiently competitive market without there being an organisation monitoring the market to make sure it is competitive? If the OFT did not exist, it would need to.