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Several parents who are making costumes for an elementary school play ask the young cast members to assist them with such tasks as cutting fabric,pinning pieces together,and sewing simple hems. We can definitely say that the parents are:
Cartel
An association of manufacturers or suppliers that maintains prices at a high level and restricts competition by controlling the production and distribution of a product or service.
Marginal Cost
The additional cost incurred in producing one more unit of a good or service.
Industry Price
The general price level for goods or services within a specific industry, often influenced by market dynamics such as supply and demand.
Duopoly
A market structure dominated by two companies, resulting in limited competition.
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