A Group of Suppliers Who Tries to Act as If

question 40

Multiple Choice

A group of suppliers who tries to act as if they are a monopoly is called a(n) :

• A) network.
• B) oligopoly.
• C) cartel.
• D) dominant strategy.

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Definitions:

Necklaces

Ornamental chains or strings of beads, jewels, or links worn around the neck.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.), assuming all are efficiently utilized.

Straight Line

A direct path that connects two points and has the shortest distance between them.

Constant Rate

A fixed rate at which something occurs or is applied.