_______ is a group of firms that have colluded to limit their output and raise their price.
A) An oligopoly
B) A strategy
C) A duopoly
D) A cartel

Question

Quizplus · Accepted Answer

A cartel is a formal agreement among competing firms to control prices or exclude entry of a new competitor in a market, often by limiting production and increasing prices, which benefits all members of the cartel.

_______ Is a Group of Firms That Have Colluded to Limit