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The Purpose of a Cartel Is to Support Prices Higher

question 27

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The purpose of a cartel is to support prices higher than would occur under more competitive conditions, thus increasing the profits of cartel members.


Definitions:

Deontology

An ethical theory that suggests the morality of an action depends on its adherence to a set of rules, rather than its consequences.

Moral Duties

Ethical obligations or responsibilities that individuals are expected to adhere to based on moral or ethical principles.

Designated Driver

A person who abstains from alcohol on a social occasion in order to drive companions home safely.

Sober

The state of not being under the influence of alcohol or drugs, or exhibiting serious and thoughtful behavior.

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