A Cartel Is a Group of Suppliers Who Act Together

question 139

Multiple Choice

A cartel is a group of suppliers who act together in order to:

• A) increase demand, raise prices, and increase profits.
• B) increase supply, reduce prices, and increase profits.
• C) increase demand, reduce prices, and increase profits.
• D) reduce supply, increase prices, and increase profits.

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Definitions:

Spaghetti

A type of pasta made in long, thin, cylindrical strands, originating from Italy and popular worldwide.

Entire Income

The total amount of income received from all sources before any deductions, adjustments, or taxes.

Units Of X

A measure used to quantify quantities of a particular good or service, often used in economics and manufacturing to specify output or consumption volumes.

Units Of Y

Quantitative measures or quantities of the variable Y, often used in mathematical or economic models to represent a particular variable.