A cartel agreement between input buyers would try to:
A)make the supply curve of their product more elastic.
B)shift their demand curve for labor to the right.
C)replicate monopsony and reduce input prices.
D)replicate monopoly and increase prices.

Question

Quizplus · Accepted Answer

A cartel agreement among input buyers aims to act like a monopsony, which is a market condition where there is only one buyer. By doing so, they can exert greater control over the market, reduce competition among themselves for inputs, and ultimately lower the prices they pay for these inputs.

A Cartel Agreement Between Input Buyers Would Try To