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Cartel Agreement
A formal, explicit agreement among competing firms to control prices, production, and market shares.
Cartelized Market
A market condition where a few suppliers act together to control prices or limit market competition.
Oligopoly
A market structure dominated by a small number of large firms, leading to limited competition and potentially higher prices for consumers.
Effective Collusion
A situation where firms in a market agree to act together instead of competing, often to fix prices or market shares, to maximize their profits.
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