The Cartelization of an Industry with a Homogeneous Product Usually

question 111

Multiple Choice

The cartelization of an industry with a homogeneous product usually means that

• A)member firms have agreed to cooperate in reducing costs.
• B)member firms have agreed to reduce their joint output.
• C)the demand curve facing the industry must be linear.
• D)the demand curve facing the industry must be elastic.
• E)member firms have agreed to reduce investment.

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