Cartels tend to be more successful when:
A) there are a large number of firms in the market.
B) the cartel is producing a good that can be produced anywhere in the world.
C) the cartel is producing a good for which there are few substitutes.
D) demand for the good is more elastic.

Question

Quizplus · Accepted Answer

Cartels tend to be more successful when there are few substitutes for the product, as this limits consumer choice and allows the cartel to exert greater control over the market.

Cartels Tend to Be More Successful When