A Group of Suppliers Who Tries to Act as If

question 40

Multiple Choice

A group of suppliers who tries to act as if they are a monopoly is called a(n) :

• A) network.
• B) oligopoly.
• C) cartel.
• D) dominant strategy.

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Definitions:

Degrees of freedom

The count of independent variables or measurements that can change in an examination while still adhering to all limitations.

Confidence interval

A ladder of figures, gathered from statistical study of a sample, with a probability of including the undetected value of a population parameter.

SAT scores

Standardized test scores used primarily in the United States for college admissions, assessing reading, writing, and mathematical skills.

Normal distribution

A statistical distribution where data is symmetrically distributed around the mean, often represented as a bell-shaped curve.