A cartel is most likely to occur in
A) perfect competition as firms compete by reducing cost.
B) oligopoly as firms act together to raise prices and increase profits.
C) monopolistic competition where firms collude to increase profits.
D) oligopoly as firms compete to lower price and increase their own profits.
E) monopoly because it faces no competition.
B
Economics
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The unregulated, single-price monopolist illustrated in the figure above has a total revenue of
A) $8.00 per day. B) $16.00 per day. C) $36.00 per day. D) $40.00 per day.
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The primary cause of diseconomies of scale is scarcity of machinery and capital
a. True b. False Indicate whether the statement is true or false
Economics