A Group of Firms That Are Acting in Unison to Maximize

question 23

Multiple Choice

A group of firms that are acting in unison to maximize collective profits is called a

• A)monopolistically competitive industry.
• B)monopoly.
• C)cartel.
• D)Nash equilibrium market.

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Definitions:

Charles Hamilton Houston

A prominent African American lawyer, Dean of Howard University Law School, and key figure in dismantling Jim Crow laws through legal challenges.

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies from the late 1940s to the late 1980s, characterized by threats, propaganda, and other measures short of open warfare.

Foreign Power

A country or entity outside of one's own nation that has influence or control over certain aspects of another nation's affairs.

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A Southeast Asian country known for its history, including a prolonged conflict known as the Vietnam War involving the United States.