1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kondor19780726 [428]
3 years ago
8

A cartel differs from a monopoly in that ________.

Business
2 answers:
Harrizon [31]3 years ago
4 0

<u>A cartel differs from a monopoly in that by businesses making the same product agree to limit production. </u>

<u> </u>

Further Explanation:

Cartel: It is an association formed by manufacturer, supplier, or both to limit production level, to fix prices, or to share customers or markets among themselves.

Monopoly: It is a market structure characterized by one producer selling a unique product. There are barriers to exit and entry. The firm in the monopoly is price maker, not the price taker.

Justification for the correct and incorrect answer:

a.

One corporation has complete control of a product or service: This option is incorrect.

In the case of monopoly, there is a single producer who has control over services or product. In the case of a cartel, there are many producers who form an association to limit the supply or to fix the prices.

b.

Businesses making the same product agree to limit production: This option is correct.  

In the case of a monopoly, there is only a single producer who sells unique services or products. In the case of the cartel, there are many producers who are selling the same product agree to form an association to limit the supply or to fix the prices.

c.

One firm sets the prices for all goods in the industry: This option is incorrect.

The one firm setting the price for product or service is a characteristic of the monopoly, but the cartel is characterized by many firms that agree to set the price.

d.

All the firms involved in the same business merge into one entity: This option is incorrect.

The monopoly is characterized by a single producer, so it cannot merge with other business and cartel is an association of producer, supplier, or both.  

Learn more:

1. Demand and type of goods

brainly.com/question/11220857

2. Demand and supply of goods

brainly.com/question/11045011

3.  Elasticity of demand

brainly.com/question/2396092

Answer details:

Grade: High School

Subject: Economics

Chapter: Types of markets

 

Keywords: A cartel, a monopoly, agree to limit production, control of a product or service, set the prices for all goods, same business merge into one entity, all the firms involved in, business making the same product, merge into one entity, one firm sets the prices, all goods in a n industry.

Marrrta [24]3 years ago
3 0
I believe the answer is: B. <span>businesses making the same product agree to limit production.

In a monopoly, only one single business exist that control the production of a certain goods in the market.
For cartel, there are a lot of established businesses with different ownership, but they agreed to control their production in order to maintain the price level in the market.
</span><span /><span>
</span>
You might be interested in
The following expenditures relating to plant assets were made by Prather Company during the first 2 months of 2020.
Nina [5.8K]

Answer:

1) Tax Payable

2) Property Plant and Equipment Asset

3) Motor Vehicle Asset

4) Property Plant and Equipment Asset

5) Advertising and Promotion Expense

6) Property Plant and Equipment Asset

7) Insurance Prepaid Asset

8) Motor Vehicle Asset

The Historical Cost of  Plant Asset consists of Actual Purchase price and all Incidental Cost required to bring the asset to the point of use  .

Explanation:

1) Already Accrued

2) The insurance is required to bring in the machinery

3) Sales taxes on Fixed assets are capitalised

4) The improvement is necessary in material

5) Advertising Expense not necessary for the functioning of the delivery truck

6) Fixed Asset Purchase

7) Insurance Prepayment not necessary for the functioning of the delivery truck

8) The expense is necessary for the functioning of the delivery truck

8 0
3 years ago
9) An investment of $20,000 earns interest at an annual rate of 3.6% compounded continuously. a) Find the instantaneous rate of
Butoxors [25]

Answer:

a) The instantaneous rate of change of the amount in the account after 3 years = dA/dt = 802.114

b) The instantaneous rate of change of the amount in the account when the amount is equal to $25,000 = dA/dt = 900

Explanation:

The detailed step by step and appropriate derivation is as shown in the attachment

6 0
3 years ago
On the summer solstice in june, the sun will be directly above ____________ and all locations north of ___________ will experien
svetlana [45]
<span>The summer solstice is the day of the year when the sun is the farthest north, over the Tropic of Cancer, 23.44 degrees (or 23 degrees 26 minutes) north of the equator. On that day, all locations north of the Arctic Circle experience 24 hours of daylight.</span>
3 0
3 years ago
The retail mall owner told a marketing researcher, "We have the option of staying open late twice a week or opening up an hour e
Alborosie

Answer:

develop your research plan

Explanation:

The five steps in the marketing research process are:

  1. Define the problem (or opportunity)
  2. Determine your research design
  3. Develop your research plan: during this step you design your research tool, e.g. questionnaires, focus groups, etc. You must also prepare a budget that covers the costs of carrying out your research plan.
  4. Collect relevant data.
  5. Analyze data.
  6. Visualize data and report findings.
4 0
3 years ago
Refer to the graphs, in which the numbers in parentheses near the AD1, AD2, and AD3 labels indicate the level of investment spen
lutik1710 [3]

Answer:

$50? ($150 is not the correct answer)

Explanation:

7 0
3 years ago
Other questions:
  • For each example of a reward, identify whether it is an extrinsic or intrinsic reward.1)The employees were happy with the new la
    6·1 answer
  • Serena would like to calculate the total cost of a car loan. She should _____.
    10·2 answers
  • A third-grade class spends several weeks learning how to solve story problems (e.g., a girl buys three candy bars for 66 cents a
    8·1 answer
  • Match each of the following types of evaluation with one of the listed users of accounting information. (Note: There might be us
    13·1 answer
  • Ski Market sells snowboards. Ski Market knows that the most people will pay for the snowboards is $129.99. Ski Market is convinc
    6·1 answer
  • A person who owned a bakery figured out that cookies were selling better than brownies. So, she took the resources that she was
    14·1 answer
  • Bretts Construction Company had a contract starting April 2017, to construct a $6,000,000 building that is expected to be comple
    10·1 answer
  • in determining the appropriate discount rate for an individual project, the financial manager will be most influenced by the
    12·1 answer
  • Which of the following is an example of physical capital in an economy?
    14·1 answer
  • what term describes the conscious, systematic process of making decisions about goals and activities that an individual, group,
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!