Which of the Following Is Not True About a Cartel

question 38

Multiple Choice

Which of the following is not true about a cartel?

• A) Members earn economic profits.
• B) Members experience large economies to scale relative to industry demand.
• C) Cartels will set common prices for their members.
• D) Members of a cartel will have production quotas.

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Definitions:

Preoperational

A stage in Jean Piaget’s theory of cognitive development where children from about 2 to 7 years old engage in symbolic play but lack operations (logical rules) for consistent reasoning.

Concrete Operational

A stage in Piaget's theory of cognitive development where children (ages 7-11) can think logically about concrete events.

Formal-Operational

Formal-operational stage is a phase in Piaget's theory of cognitive development when individuals gain the ability to think abstractly, logically, and systematically.

Intuitive Stage

A stage in Piaget's theory of cognitive development, occurring roughly between the ages of 4 and 7, where children start using intuition and perception but lack logical reasoning.