A group of producers enter into an agreement to restrict supply or fix the price of a good. What does this describe?

a cartel

a conglomerate merger

economies of scale

horizontal integration

Economics

IGCSE&ALevel

CAIE

Exam No：9708_w24_qp_33 Year：2024 Question No：9

Answer:

7.7.4.1 conditions for an effective cartel

7.7.4.2 consequences of a cartel

7.7.5 principal–agent problem arising from differing objectives of shareholders/owners and managers

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