A Cartel Is

question 131

Multiple Choice

A cartel is:

• A) a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves.
• B) a government-approved organization for the exchange of technical information among firms.
• C) an industry trade group formed to lobby political leaders.
• D) a regulated industry manufacturers association that is officially permitted to set the price of its product above long-run average total cost.

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Definitions:

Diverse Populations

Groups of people from varying backgrounds, cultures, races, ethnicities, genders, and other characteristics within a given population.

Negative Attitudes

A general disposition of disapproval, dislike, or pessimism towards people, objects, or situations.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or gender.

Organizational Membership

Pertains to the state of being a part of an organization, encompassing rights, responsibilities, benefits, and a sense of belonging among its members.