Which statement is true?

Question

Quizplus · Accepted Answer

A cartel is a group of firms that collude to restrict output and raise prices in order to increase profits. While some oligopolies may take the form of a cartel, not all do. Covert collusion, or secret agreements between firms to restrict output or raise prices, has been documented among American oligopolists in the past. The cartel and cut throat competitor are not opposite ends of the competitive spectrum, as both involve firms competing to maximize profits. Choice C is the only statement that is true.

Which Statement Is True