-
hey these firms are restricting their quantities,
-
we can get in there and make money.
-
So new and a competitive fringe of firms
-
is going to enter and drive prices down.
-
Now, I'm talking about 1900 America
-
where has that happened in the twentieth century more dramatically?
-
We know the early example in sort of Golden Age America,
-
but where else did we see a competitive fringe enter
-
when there was a collusive agreement to keep quantities down?
-
Airlines.
-
Good, so airlines is an example; we've seen that.
-
Where else? Oil is probably the classic example.