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No; the simplest explanation is that increasing demand for a product with limited supply increases in price. That's literally Econ 101 - no cartel required.
by NovemberWhiskey 5y ago
No; the simplest explanation is that increasing demand for a product with limited supply increases in price. That's literally Econ 101 - no cartel required.
- Avshalom 5y agoCartels are also econ 101. And OPEC is quite famously a price fixing cartel. and 101 means "so simple it's basically wrong but we have to start somewhere" anyway.