The EU's antitrust chief in November 2008 fined car glass producers Asahi, Pilkington, Saint-Gobain and Soliver more than 1.3 billion euros ($1.66 billion) for price-fixing, the largest sum ever levied by the EU for a cartel. Cartels tend to arise in ________ markets.

Question

Quizplus · Accepted Answer

Cartels are more likely to form in oligopolistic markets where a few firms dominate and can collude to set prices, rather than in competitive markets where many firms exist.

The EU's Antitrust Chief in November 2008 Fined Car Glass