A cartel is a group of firms that attempts to

Name: A cartel is a group of firms that attempts to
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A cartel is a group of firms in an industry that collude to reduce competition and increase their profits. Therefore, their primary goal is to maximize joint profit, which is achieved by reducing output and raising prices above competitive levels. A cartel does not behave independently and their actions often lead to a decrease in consumer surplus.

A Cartel Is a Group of Firms That Attempts to