A cartel is
A. a group of consumers that bid against each other for the same product.
B. an arbitrator to settle disputes between consumers and producers.
C. a government agency that regulates markets.
D. a group of producers that agree to set common prices and output quotas.
Answer: D
Economics
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Refer to Figure 15-17. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor?
A) $0 B) $40 C) $88 D) $150
Economics