An association of producers such as OPEC that agrees to set common pricing or output goals is referred to as a
A) cartel.
B) conglomerate.
C) monopoly.
D) partnership.

Name: An association of producers such as OPEC that agrees to set common pricing or output goals is referred to as a A) cartel. B) conglomerate. C) monopoly. D) partnership.
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Question

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A group of producers who agree to set common pricing or output goals is referred to as a cartel. OPEC is a well-known example of a cartel in the oil industry.

An Association of Producers Such as OPEC That Agrees to Set