A Group of Firms That Has Entered into a Collusive

question 80

Multiple Choice

A group of firms that has entered into a collusive agreement to restrict output and increase prices and profits is called

• A) a compliance.
• B) a cartel.
• C) an oligopoly.
• D) a duopoly.

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Definitions:

Cost Effective

A term describing an action or method that provides good value or outcome for the resources invested.

Key Decision Makers

Individuals or groups who have the authority to make critical decisions within an organization or project.

Medium

A means or instrumentality for storing or communicating information.

Communication Channel

A medium through which information is transmitted from one entity to another, such as spoken language, writing, or electronic media.