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Use the figure to answer questions Use the figure to answer questions   -Letter C represents this type of economic system. A) Market Socialism B) Command Capitalism C) Market Capitalism D) Command socialism
-Letter C represents this type of economic system.


Definitions:

Cartels

Groups of independent market participants who collude to control prices and output in a particular market, typically to restrict competition.

Illegal

Refers to actions or activities that are prohibited by law.

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies while the other players' strategies remain unchanged.

Payoff

The benefit or return that one receives as a result of an investment or action; a rephrasing of economic payoff emphasizing the outcome aspect.

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