A Cartel Is

question 175

Multiple Choice

A cartel is

• A) a market structure with a small number of large firms.
• B) a market structure with a large number of small firms.
• C) a group of firms acting together to raise price, decrease output, and increase economic profit.
• D) a market with only two firms.
• E) another name for an oligopoly.

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Definitions:

Electronegativity

A chemical property that describes the ability of an atom to attract electrons towards itself in a chemical bond.

Isotopes

Forms of an element that differ in the number of neutrons their atoms carry.

Electrons

Negatively charged particles in atoms, playing a crucial role in chemical reactions and electricity by transferring energy and charge.

Neutrons

Subatomic particles found in the nucleus of an atom, having no electrical charge and a mass slightly greater than that of protons.