A cartel is a:
A) group of suppliers that tries to act as if they were a monopoly.
B) market that is dominated by a small number of firms.
C) market with a large number of firms selling similar but not identical products.
D) group of suppliers that tries to act as if they were a perfectly competitive market.

Question

Quizplus · Accepted Answer

A cartel is a group of suppliers that tries to act as if they were a monopoly by agreeing to limit production or fix prices in order to increase profits.

A Cartel Is A