A Number of Firms Agreeing Together to Restrict Output and Thereby

question 46

Multiple Choice

A number of firms agreeing together to restrict output and thereby raise prices is known as

• A) a natural monopoly.
• B) a monopoly.
• C) a barrier to entry.
• D) a cartel.
• E) an oligopoly.

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Definitions:

Thalamus

A brain structure that acts as a relay station, processing and transmitting sensory and motor signals to and from the cerebral cortex.

Retina

A light-sensitive layer of tissue at the back of the eye that converts light into electrical signals, which are sent to the brain to produce vision.

Blindsight

A condition in which individuals can respond to visual stimuli in their blind spots without consciously perceiving them.

Stroke Victim

An individual who has experienced a stroke, a medical condition caused by disruption in blood flow to the brain, resulting in cell death and potentially permanent damage.