A Cartel Is A(n)

question 153

Multiple Choice

A cartel is a(n)

• A)form of explicit collusion in which the parties collectively behave like a monopoly
• B)market that changes very little as firms enter and exit
• C)implicit pricing scheme that does not involve explicit communication between the parties
• D)form of nonprice competition
• E)group of firms engaged in price discrimination

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Definitions:

Nausea

A feeling of sickness with an inclination to vomit.

Counterconditioning

A behavioral therapy technique that involves replacing an unwanted response to a stimulus with a desired response.

Operant Conditioning

A learning process where the consequences of an action determine the likelihood of that action being repeated in the future.

Swings

Playground equipment consisting of a seat suspended by ropes or chains, used for moving back and forth.