A cartel exists when various companies producing similar products or services work together to control markets for the types of goods and services they produce.
A cartel is a group of independent market participants who work together to improve profits and control the market. Cartels are usually associations in the same line of business and mergers of competitors.
1: Written agreement between Sengoku. 2 : An association of independent commercial or industrial enterprises aimed at limiting competition or fixing the prices of illegal drug cartels. 3 : Faction combination for joint action.
Examples of cartels: Organization of the Petroleum Exporting Countries (OPEC), an oil cartel whose members control 44% of world oil production and 81.5% of world oil reserves.
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Answer:
b. dividing a market into several smaller groups of buyers with similar characteristics
Explanation:
The aim of market segmentation is to increase the revenue a seller earns.
For example, if a seller segments buyers based on their price elasticity, the seller can charge a higher price to the group with the less elastic demand and a lower price for those with a more elastic demand.
Also, if a seller segments buyers based on their willingness to pay, the seller can charge higher for the group with a higher willingness to pay and charge lower for the group with the lower willingness to pay. This is done with the aim of eliminating consumer surplus.
Segmentation is done to maximise profit of the seller.
Monopolies are usually able to practice segmentation more successfully.
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15 pounds is the maximum normal charge of hcfc or hfc refrigerant in an appliance that is allowed to use system dependent recovery equipment.
<h3>What is hfc refrigerant?</h3>
What this means is hydrofluorocarbons. This is the third generation of fluorinated refrigerants that are available in the world. They are greenhouse gases that are used in appliances such as the refrigerators and the air conditioners.
We can conclude that 15 pounds is the maximum normal charge of hcfc or hfc refrigerant in an appliance that is allowed to use system dependent recovery equipment.
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The process of defining the objectives of a company and then developing a method to achieve those objectives is known as:<u> Strategic planning</u>.
<h3>What is Strategic planning?</h3>
Strategic planning can be defined as the process of setting up an objectives or goals and then planning how to achieve the sets objectives and goals.
A company or an organization that want to achieve their future goals must tend to make use of Strategic planning.
Therefore The process of defining the objectives of a company and then developing a method to achieve those objectives is known as:<u> Strategic planning</u>.
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Hydro Drops
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