A coalition of firms who agree to restrict output for the purpose of earning an economic profit is called a(n):
A)pure monopoly.
B)oligopoly.
C)cartel.
D)duopoly.

Name: A coalition of firms who agree to restrict output for the purpose of earning an economic profit is called a(n): A)pure monopoly. B)oligopoly. C)cartel. D)duopoly.
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Question

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A cartel is a coalition of firms that agree to restrict output in order to earn an economic profit.

A Coalition of Firms Who Agree to Restrict Output for the Purpose