When Rival Firms Agree to Control Output and Raise Prices

question 241

Multiple Choice

When rival firms agree to control output and raise prices, there is:

• A) a horizontal merger
• B) a cartel
• C) a tying arrangement
• D) an interlocking directorate
• E) a vertical merger

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Definitions:

Durkheim

A foundational sociologist known for his work on social cohesion, the division of labor, and the concept of anomie.

Collective Conscience

Durkheim’s concept highlighting the totality of beliefs and sentiments that are common to the average person in a society.

Social Facts

Durkheim's term for phenomena within society that exert social control over individuals, guiding their actions and thoughts.

Durkheim

A reference to Émile Durkheim, a pioneering French sociologist who contributed foundational theories on social order, social solidarity, and the study of religion and suicide.