Question

Cartels are those ________________ .

• A. which are functioning in a particular industry
• B. whose combined assets are worth more than $90\%$ of total assets of the industry
• C. who control major chunk of the market
• D. whose combined profits are enormous

Answer 1

The correct option is A which are functioning in a particular industry

When a group of firms in the same industry attempt to control the prices of a commodity through mutual restraint on production is called cartel.