Which of the following is true of a cartel?
A) It is a contract for the licensing of industrial property rights to two or more licensees.
B) It is a combination of independent business firms organized to regulate the production, pricing, and marketing of goods by its members.
C) It is a provision according to which an industry-wide patent pool must grant reasonable access to the pool to any firm wishing to compete so that no firm will be disadvantaged.
D) It is a license that restricts who may compete with the licensee.

Question

Quizplus · Accepted Answer

A cartel is a group of independent businesses that come together to regulate the production, pricing, and marketing of goods by its members. It is often formed to maximize profits and reduce competition.

Which of the Following Is True of a Cartel