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Which of the following statements is TRUE?
I. It is easier to form a cartel for a product with few substitutes.
II. Cartels that are backed and supported by the government tend to have less power.
III. Cartels are more likely to collapse the more firms there are in an industry.
Financial Intermediary
An institution that acts as a middleman between savers and borrowers, such as a bank or investment firm.
Fund Manager
An individual responsible for making investment decisions for a portfolio of securities, implementing investment strategies for a mutual fund or institutional investor.
Shareholders
Individuals or entities that own shares in a corporation and therefore have an ownership interest in the company.
Privately-Held Firms
Businesses whose ownership is private, meaning their shares are not traded on public stock exchanges.
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