Register
When a group of firms chooses to work together to turn a non-monopoly market into a monopoly market by securing formal agreements on price, they are said to have formed a _______________. Select the correct
16.9k views
2 votes
When a group of firms chooses to work together to turn a non-monopoly market into a monopoly market by securing formal agreements on price, they are said to have formed a _______________. Select the correct answer below: monopoly oligopoly collusion cartel

User Steven Matz
by
5.2k points

1 Answer

4 votes

Answer:

Option B is the answer – Oligopoly

Step-by-step explanation:

Usually, there are not set limit to the number of firms that can come together to form the oligopolistic market structure but the number must be low so that one firm can significantly have an influence on the other. This form of market arrangement can been seen in most part of the world and the common industries dominated by oligopolies are; Cable Television services, Oil and Gas, airlines, etc

User David Angel
by
5.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.9m questions

7.7m answers

Other Questions

A piston-cylinder device fitted with stops in the cylinder walls contains 2.1 kg of water initially at 150 kPa and 30 °C. Heat is transferred to the system until the final temperature reaches 250 °C. The
4. Which of the following is the first thing you should do when attempting to park? A. Securing the parking spot by standing in it B. Turning on your hazard lights C. Confirming the space can fit your
A water towers lowest point is 405 ft and the main line is 6 feet below the ground. The ground elevation is at 276 ft. The main line travels 2.9 miles. The pipe will travel through the following flanged
An activated sludge plant is being designed to handle a feed rate of 0.438 m3 /sec. The influent BOD concentration is 150 mg/L and the cell concentration (MLVSS) is 2,200 mg/L. If you wish to operate the
The bulk modulus of a fluid if it undergoes a 1% change in volume when subjected to a pressure change of 10,000 psi is (a) 0.01 psi (b) 0.001 psi (c) 0.00001 psi (d) 0.000001 psi (e) none of these
Link Copied!