Question

A cartel is A. a government agency that regulates markets. B. an arbitrator to settle disputes between consumers and producers. C. a group of producers that agree to set common prices and output quotas. D. a group of consumers that bid against each other for the same product.

Answer 1

Answer:

C. a group of producers that agree to set common prices and output quotas.

Explanation:

A Cartel is association of producers to set single rules and regulations for the product and services in order regulate the market. The cartel usually created to control the market price and output.