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

Social Studies

Champ

1 September, 12:01

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.

+4

Answers (1)

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Sterling Fields · 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.