A cartel differs from a monopoly in that

A. one firm sets the prices for all goods in an industry.

B. one corporation has complete control of a product or service.

C. all the firms involved in the same business merge into one entity.

D. businesses making the same product agree to limit production.

Question

Katelyn Harmon

Social Studies

10 July, 12:49

A cartel differs from a monopoly in that

A. one firm sets the prices for all goods in an industry.

B. one corporation has complete control of a product or service.

C. all the firms involved in the same business merge into one entity.

D. businesses making the same product agree to limit production.

+1

Answers (1)

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Jessie Hanson · Answer 1

A cartel differs from a monopoly in that with a cartel you have multiple businesses making the same product which then agree on limiting production. Through this they manipulate the price then. This is not something a monopoly does, a monopoly is usually one company which has all the maret share over certain goods.

A cartel differs from a monopoly in thatA. one firm sets the prices for all goods in an industry.B. one corporation has complete control of a product or service.C. all the firms involved in the same business merge into one entity.D. businesses making the same product agree to limit production.