A ________ is an association of firms that explicitly agree to coordinate their activities.
A) cartel
B) strategic alliance
C) collusion
D) joint venture

Question

Quizplus · Accepted Answer

A cartel is a group of firms that explicitly agree to coordinate their activities, often to reduce competition and increase profits. They typically work together to control prices and production levels in the market.

A ________ Is an Association of Firms That Explicitly Agree