Explain the circumstances under which cartels may either succeed or fail.

Suggested word count: 1,250 (for the purposes of the word count a single well-drawn diagram accounts for about 25-30 words).
Please provide your answer to the following question:
Explain the circumstances under which cartels may either succeed or fail.

a) What do I need to read to prepare for this task?
Other than the course reading, please refer to classroom discussion as well. Also, and more generally, please do remain aware of current and recent development news via resources such as the BBC, CNN, SKY News, quality newspapers, such as the FT, etc. Please do consider signing up for news-rich Twitter feeds from the ONS and others.
The FT is Britain’s premier daily newspaper with a strong focus on economics and trade matters. If you use a smartphone then please do consider downloading the app and ask the librarian about registering for your own access to this most valuable publication.
b) How will I be assessed on my assessments?
I make a judgment about the work you have submitted on the basis of the following criteria:
1. Has the question been set up and interpreted well?
2. Does the work have good content/structure?
3. Is the level of analysis appropriate to the question?
4. When necessary are there any relevant recommendations and/or conclusions or suggestions?
5. Is the bibliography and general referencing, plus word count, appropriate?