Problem
1. How are the contestable market model and the cartel model of oligopoly related?
2. In 1982 Robert Crandell, CEO of American Airlines, phoned the Braniff Airways CEO and said, "Raise your fares 20 percent and I'll raise mine the next morning."
a. Why would he do this?
b. If you were the Braniff Airways CEO, would you have gone along?
c. Why should Crandell not have done this?
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.