How did a cartel control prices?

Businesses agreed to limit production.

Businesses agreed to share ownership.

Businesses drove competitors out of business.

Businesses assigned their stock to trustees.

Businesses drove competitors out of business.

Explanation:

A price cartel that leads to an agreement by market participants to raise or lower the price of a certain group of goods or services. The most common cartel agreement in practice are price agreements (agreements to maintain a certain price). The possibility of concluding mixed cartels, which are concluded at tenders and envisage maintaining a certain price of the goods, is not ruled out. Since the price is one of the determining conditions of the contract, and tendering is a way of determining the parties to the contract, collusion at tenders is prohibited in many states.