A cartel is a group of firms that agree to

Name: A cartel is a group of firms that agree to
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A cartel is a group of firms that collude to limit output, raise prices, and increase economic profit. This is done by agreeing to restrict production levels or divide up the market, which reduces competition and allows the cartel to collectively raise prices above the competitive level. This allows the cartel members to increase their profits at the expense of consumers.

A Cartel Is a Group of Firms That Agree to