The answer is cartel. This is when companies who are in the same business manipulate the prices of goods and commodities to their favor. This is frowned upon and usually government intervenes when it does so at the expense of the consumer.
The answer is cartel.
A cartel consists of several producers that share interests and they work together to secure them. Another cartel's task is to restrict aspects related to the market such as the output released, as well as the establishment of some rules concerning members' behavior.
Cartels can also establish prices to be applied to members, and in this way to avoid the competition related to prices. When this situation occurs, the cartels are known as price rings. Producers consider that cartels would reduce economic risks because of cartels' establishment of rules concerning to members.
The correct answer is CARTEL
A cartel arises in an oligopolistic market when the few firms that constitute it decide to set together the market price of their products, or the share of the total demand that will be attended by each producer, instead of competing, as this latter option would lead to lower firm profits.
Cartels are illegal, as they are harmful for consumers that will purchase the same product at a higher price, and for the development of technological innovations, as firms in a cartel do not have incentives for investing in technology, as they do not have to overcome competitors.
this can !
- jack watson
the correct answer is d