A cartel is
A) a group of producers that agree to set common prices and output quotas.
B) a group of consumers that bid against each other for the same product.
C) a government agency that regulates markets.
D) an arbitrator to settle disputes between consumers and producers.

Question

Quizplus · Accepted Answer

A cartel is a group of producers that agree to set common prices and output quotas in order to limit competition and increase profits. This type of behavior is generally illegal and can result in fines and other penalties.

A Cartel Is