A group of producers that agree to set common pricing or output goals is known as a
A) cartel.
B) conglomerate.
C) perfect competitor.
D) monopoly.

Question

Quizplus · Accepted Answer

A group of producers that agree to set common pricing or output goals is known as a cartel. The producers work together to limit competition and boost profits by controlling the supply and price of their products. This is illegal in many countries because it violates anti-trust laws.

A Group of Producers That Agree to Set Common Pricing