A Cartel Is A

question 129

Multiple Choice

A cartel is a:

• A) group of suppliers that tries to act as if they were a monopoly.
• B) market that is dominated by a small number of firms.
• C) market with a large number of firms selling similar but not identical products.
• D) group of suppliers that tries to act as if they were a perfectly competitive market.

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Definitions:

Cable Television

A system for delivering television programming to consumers via radio frequency signals transmitted through coaxial cables.

Efficient Level

A state of resource allocation where it is not possible to make someone better off without making someone else worse off.

Excludable

A characteristic of a good where it is possible to prevent people who have not paid for it from having access to it.

Rival

A term describing a good or resource that cannot be enjoyed by more than one individual or group without reducing its availability to others.