________ is a group of firms colluding to make price and output decisions.
A) A concentrated industry
B) An oligopoly
C) A cartel
D) Price leadership

Name: ________ is a group of firms colluding to make price and output decisions. A) A concentrated industry B) An oligopoly C) A cartel D) Price leadership
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Question

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A cartel is a formal agreement among competing firms to control prices or exclude entry of a new competitor in a market, often by coordinating their production and pricing decisions.

________ Is a Group of Firms Colluding to Make Price