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:

Written Language

A system of symbols and signs used to convey complex messages and ideas through the physical medium of writing.

Kintsch And Keenan

Researchers known for their work on text comprehension and the construction-integration model of textual understanding.

Propositions

Statements or assertions that express judgments or opinions that can be either true or false, used in logic and mathematics as well as in the analysis of language and thought.

Function Words

Words that have little lexical meaning or have grammatical function but are necessary for the structure of a sentence, such as prepositions, pronouns, and conjunctions.