What is a cartel?
A group of firms that agree to

Question

What is a cartel? 
 A group of firms that agree to

Accepted Answer

limit total industry output, raise the market price, and increase economic profit.

Answer

lower the market price of their products to increase consumer surplus.

Answer

increase the total industry output and increase economic profit.

Answer

actively compete in the market.

Answer

produce the efficient quantity of total output.

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