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23 October, 05:50

What is the primary means cartels use to control the price of the goods they produce

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  1. 23 October, 06:06
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    It is commonly understood in economics that competition lowers prices by having companies fight each other for the consumers earned dollars.

    A cartel is, then, an organization that exists for the purpose of controlling the supply and production of an item in order to fix the price.

    By eliminating competition, a cartel is able to dictate to the market what they believe is an acceptable or desirable price.
  2. 23 October, 06:19
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    controlling supply levels
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