Which of the following would be cases of cartels?   Check All That Apply Ford Motor Company OPEC Major League Baseball Major League Baseball The restaurant industry DeBeers Microsoft

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter15: Oligopoly And Strategic Behavior
Section: Chapter Questions
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Which of the following would be cases of cartels?

 

Check All That Apply
  • Ford Motor Company

  • OPEC

  • Major League Baseball

    Major League Baseball
  • The restaurant industry

  • DeBeers

  • Microsoft

Expert Solution
Step 1

A cartel is a group of unaffiliated firms or organizations that band together to influence the price of a product or service. Cartels use tactics like supply reduction, price fixing, collusive bidding, and market carving.

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