A Group of Firms Acting Together to Limit Output,raise Price,and

question 17

Multiple Choice

A group of firms acting together to limit output,raise price,and increase economic profit is a called a

• A) duopoly.
• B) monopolistic oligopoly.
• C) competitive oligopoly.
• D) cartel.
• E) multi-firm competitive monopoly.

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Definitions:

Networking

The building of relationships and sharing of information with colleagues who can help managers achieve the items on their agendas.