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Managerial EconomicLectured By: Abhishek SinghAssignment 6PREPARED AND PRESENTED BYPEOU PANNHAID: 20190095MBA (BATCH-38)NORTONUNIVERSITYGraduate School
CONTENTSGlobal Application: The Decline of EuropeanCartelsAn Airline Pricing Example
Global Application: The Decline ofEuropean CartelsIn the past, European governments tolerated andbacked monopolies, and price cartels thrived despitethe fact that they were illegal. However, the situationhas changed, and the European Commission has beenaggressive in its pursuit of cartels. Several acts takenby the European Commission during the last decadeare briefly outlined here.
Global Application: The Decline ofEuropean CartelsCartels are created to prevent the uncertainty of onecompetitor's reaction to another's price and productionactivities. To optimize earnings, industry firms agree on uniformpricing and production activities. Such arrangements, however,are not necessarily stable, as history has include:In July 1994: The European Commission fined nineteen manufacturers atotal of $159 million, setting a new record.

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Term
Summer
Professor
Peter Lim
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