Cartels Form to __________ the Price of a Certain Product,usually

question 16

Multiple Choice

Cartels form to __________ the price of a certain product,usually are formed by producers,most often __________ production by each member so as to lower supply,and can suffer from serious collective-goods problems.

• A)manipulate,inflate
• B)reduce,inflate
• C)manipulate,limit
• D)inflate,reduce

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Definitions:

Heuristics

Simple, efficient rules used by humans to make decisions and solve problems.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.

Stereotypes

Oversimplified generalized beliefs about a group of people that may not accurately represent the diversity within the group.