Examlex
Rollo May says that:
Cartel
An agreement among several producers to obey output restrictions in order to increase their joint profits.
Marginal Cost
The cost incurred from producing one additional unit of a product or service.
Output
The amount of goods or services produced by a business, industry, or economy.
Oligopolistic
Pertaining to an oligopoly, describing a market dominated by a small number of firms, leading to strategic behaviors among them.
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