A cartel is a group of firms with an implicit, informal agreement to fix prices and output shares in a particular market.
Answer the following statement true (T) or false (F)
False
A cartel is a group of firms with an explicit, formal agreement to fix prices and output shares in a particular market.
Economics
You might also like to view...
The growth theory that predicts perpetual economic growth is
A) classical growth theory. B) neoclassical growth theory. C) the new growth theory. D) real growth theory.
Economics
The natural resources used in production are made available in the
A) goods and services market. B) product market. C) government market. D) factor market.
Economics