Which Statement About Cartels Is TRUE

question 158

Multiple Choice

Which statement about cartels is TRUE?

• A) Cartels are sustainable because they split their joint economic profits.
• B) Cartels are illegal throughout the world.
• C) An individual member of a cartel could increase its profits by dropping its price below the established price.
• D) Cartels maximize their profits where marginal revenue equals price.

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Definitions:

Basic Elements

Fundamental components or building blocks of a broader concept, structure, or system.

Titchener

Titchener, Edward Bradford, was a psychologist who founded structuralism, an early school of psychology focusing on introspection to identify the basic components of consciousness.

Consciousness

The condition or characteristic of being conscious or cognizant of an external object or something internal to oneself.

Continuous Stream

An unbroken flow or sequence of content or information, often used in context to streaming media online.