Which of the Following Best Describes a Cartel

question 14

Multiple Choice

Which of the following best describes a cartel?

• A) As a monopolist, a group of monopolistically competitive firms that jointly reduce output and raise the price.
• B) As a monopolist, a group of cooperating oligopolists that jointly reduce output and raise the price.
• C) A monopolist that reduces output and raises price.
• D) A group of identical non-cooperative oligopolists that are able to reproduce a monopoly equilibrium through price rivalry.

---

Definitions:

Pyroclastic Eruption

A volcanic eruption characterized by the explosive ejection of hot ash, gas, and volcanic fragments.

Igneous Rock

A type of rock that forms through the cooling and solidification of magma or lava, with examples including granite and basalt.

Pyroclastic Eruption

A volcanic phenomenon involving the expulsion of hot gases, ash, and volcanic debris.

Dissolved Gas

Gases that are incorporated into magma and can expand, leading to explosive volcanic eruptions as pressure decreases.