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24 August, 18:41

When a group of separate companies comes together to work together in order to control production and prices they are called

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  1. 24 August, 18:50
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    This would be a cartel: when a group of companies works together to control the market through price fixing or limiting supply in order to maximize their mutual benefit. A well-known example is OPEC (Organization of Petroleum Exporting Countries), which decides how much oil to produce and at what price.
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