A cartel differs from a monopoly in that

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

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

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

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

Question

Timothy Kirk

Social Studies

10 May, 03:01

A cartel differs from a monopoly in that

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

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

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

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

+3

Answers (2)

Know the Answer?

Mckinley Ortega · Answer 1

A cartel differs from a monopoly in that a) one firm sets the prices for all goods in an industry. The definition of a cartel is "an agreement between competing firms to control prices or exclude entry of a new competitor in a market." This is seen in the economics perspective.

Ferris · Answer 2

I think the answers is C

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