What is a group of firms that are acting in unison to maximize collective profits called
A)a market structure
B)a coalition
C)a cartel
D)a Nash market

Question

Quizplus · Accepted Answer

A group of firms that are acting in unison to maximize collective profits is called a cartel. A cartel is formed when firms in an industry agree to coordinate their production and pricing decisions in order to maximize profits for all members of the cartel. This often involves collusion and anti-competitive practices, and is illegal in many countries.

What Is a Group of Firms That Are Acting in Unison