Cartel pricing refers to an agreement made by members of the cartel to abide by the cartel's price decision. The outcome most closely resembles that of a
A) price discriminator
B) godfather oligopoly
C) monopolistically competitive industry
D) monopoly
E) competitive industry

Question

Quizplus · Accepted Answer

Cartel pricing effectively creates a situation where the members act as a single entity, controlling supply and price, similar to a monopoly, where one firm dominates the market and sets prices.

Cartel Pricing Refers to an Agreement Made by Members of the Cartel