If Two or More Firms Engage in a Conspiracy to Fix

question 29

Multiple Choice

If two or more firms engage in a conspiracy to fix prices, they have formed a(n) _____.

• A) oligopoly
• B) monopoly
• C) oligopsony
• D) cartel

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Definitions:

Performance Efficiency

The level at which an entity uses the least amount of inputs to produce the highest amount of outputs, optimizing resources and productivity.

Organizational Trends

The patterned changes or developments within organizations, often influenced by innovations, market dynamics, and cultural shifts.

Technical Skills

Practical abilities and knowledge required to perform specific tasks, especially related to operating machines, software, or instruments in various fields.

Gross Motor Skills

These are the abilities required to control the large muscles of the body for walking, jumping, balancing, and other physical activities.