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:

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