A government-supported cartel usually means:
A) lower prices.
B) higher quality of service.
C) more innovation.
D) None of the answers is correct.

Question

Quizplus · Accepted Answer

A government-supported cartel means that the government is artificially supporting a group of companies or producers to control the market and limit competition. This generally leads to higher prices, lower quality of service, and less innovation as there is no incentive for the cartel to improve or change its practices. Therefore, none of the given options are correct.

A Government-Supported Cartel Usually Means