A Cartel Is a Group of Firms That ________ to Make

question 43

Multiple Choice

A cartel is a group of firms that ________ to make price and output decisions.

• A) implicitly colludes
• B) act independently
• C) explicitly colludes
• D) are unable

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Definitions:

Free Blacks

African Americans who were not enslaved and lived freely during the periods of slavery in the United States, some of whom owned property and even slaves.

Antebellum Period

The time period in the United States before the Civil War, noted for its growing divisions over slavery.

Population

The total number of people inhabiting a particular area or country.

Antebellum Period

The era in the United States history immediately before the Civil War, marked by the division over slavery and states' rights, approximately between the late 18th century and 1861.