If All of the Firms in an Oligopoly Successfully Collude

question 33

True/False

If all of the firms in an oligopoly successfully collude and form a cartel, then total profit for the cartel is equal to what it would be if the market were a monopoly.

---

Definitions:

Sole Proprietorship

A business structure owned by a single individual, where the owner and the business are legally considered the same.

LLC Statute

Rules and regulations governing Limited Liability Companies, outlining the formation, operation, and taxation specifics.

Wyoming

A state in the western United States known for its wide-open spaces, mountains, and national parks.

Certificate of Organization

A legal document filed with a government body to officially document the formation of a new corporation, limited liability company, or other legal entity.