A(n) ________ is a group of suppliers who try to act together to reduce supply.
A) monopoly
B) retailer
C) oligopoly
D) cartel

Question

Quizplus · Accepted Answer

A cartel is a group of suppliers who work together to reduce supply and drive up prices. They coordinate their production and pricing strategies in order to maximize profits. This is typically illegal and can result in fines and other penalties if caught.

A(n) ________ Is a Group of Suppliers Who Try to Act