A Cartel Would Most Likely Form If

question 18

Multiple Choice

A cartel would most likely form if:

• A) there are a small number of firms that have similar production costs.
• B) there are a large number of firms that have similar production costs.
• C) there are a small number of firms that have different costs of production.
• D) there are a large number of firms that have different costs of production.

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Definitions:

Stereotypes

Oversimplified and widely held beliefs or generalizations about a particular group of people, which may not accurately reflect reality.

Assumptions

Beliefs or statements taken for granted without proof.

Attitude

A settled way of thinking or feeling about something, typically reflected in a person's behavior.

Behavior

The actions or reactions of an individual or a system in response to external or internal stimuli.