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11 August, 07:30

A cartel differs from a monopoly in that

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  1. 11 August, 07:43
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    A cartel is a group of organization or people making the same product and fixing the price and the quantity of the production. They split the profit among themselves. This is also a kind of monopoly. It differs from monopoly in one sense and that is a monopoly business is run by a single individual. The profit is taken by him alone. The amount of profit in a cartel is less than that in a monopoly. Different people believe in different concept of business.
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