To Increase Their Individual Profits, Members of a Cartel Have

question 454

Multiple Choice

To increase their individual profits, members of a cartel have an incentive to

• A)charge a higher price than the other members of the cartel.
• B)increase production above the level agreed upon.
• C)ignore the choices made by the other firms and act as a monopolist.
• D)charge the same price a monopolist would charge.

---

Definitions:

Beliefs

Mental acceptance or conviction in the truth or actuality of something, often without complete proof or evidence.

Organization Members

Individuals who belong to and participate in the activities of an organization, contributing to its goals and operations.

Stability

The state of being steady and firm, often referring to economic or social systems.

Sending Information

Sending information refers to the act of transmitting data, messages, or communications from one entity to another through various means such as verbal, written, or electronic channels.