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1 year ago

a cartel is a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves

1 answer:

4 0

A cartel is a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves.

<h3>Cartels </h3>

Cartels are competitors in the same industry and seek to reduce that competition by controlling the price in agreement with one another. Tactics used by cartels include reduction of supply, price-fixing, collusive bidding, and market carving.

Some examples of a cartel include The Organization of the Petroleum Exporting Countries (OPEC), an oil cartel whose members control 44% of global oil production and 81.5% of the world's oil reserves.

<h3>Types of Cartels</h3>

Price Cartels – They fix the minimum prices per their demand-supply ratio. Members cannot sell products below those prices.

Term Cartels – They agree on business terms on a routine basis. Each member is obliged to follow the terms of trade.

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If closing costs of $1,400 are associated with the refinance of reduce the monthly payment fro m $980 to $870 refinance, it woul

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Answer:

time take = 13 months

so correct option is C.)13

Explanation:

given data

closing costs = $1,400

monthly payment reduce = $980 to $870

to find out

Time to cover cost

solution

we know here monthly payments after reduction will be

monthly payments = $980 - $870

monthly payments = $110

time taken is = $\frac{closing\ costs}{monthly\ payments}$ .........1

time taken is = $\frac{1400}{110}$

time take is = 12.727273

time take = 13 months

so correct option is C.)13

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