Once a cartel is formed, the market is in effect served by
A)a monopoly.
B)an oligopoly.
C)imperfect competition.
D)monopolistic competition.

Name: Once a cartel is formed, the market is in effect served by A)a monopoly. B)an oligopoly. C)imperfect competition. D)monopolistic competition.
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Question

Quizplus · Accepted Answer

A cartel is a group of independent market participants who collude to raise prices and restrict output, effectively acting as a single monopoly.

Once a Cartel Is Formed, the Market Is in Effect