Which of the Following Statements Is TRUE

question 213

Multiple Choice

Which of the following statements is TRUE?

• A) It is easier to establish a cartel for a manufactured good than for a natural resource.
• B) Cartels are more successful when there are many substitutes for the cartel's good.
• C) The high prices charged by a cartel might lead to new firms entering the industry, reducing the cartel's market power.
• D) OPEC's high oil prices encourage countries like Mexico, Great Britain, and the Netherlands to cut back on oil production.

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Definitions:

Letter Position

The placement of a letter in either the layout of a document or alphabetically within a word or list.

Premiere Suites

High-end, luxury hotel accommodations or software editions that offer premium features or services.

Positive Manner

Acting or responding in a way that is constructive, optimistic, or conducive to positive outcomes.

Peak Season

The time period when demand for a particular service or product is at its highest, often leading to increased prices and activity.