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Subject - Economics:

Microeconomics

MCQ - 162-4172

Question:

A cartel is often the result of

  1. perfectly competitive firms that agree to produce a homogenous product.
  2. oligopoly competitors that agree to restrict output to maximize joint profits.
  3. a monopoly that has been regulated by the government.
  4. oligopoly competitors that agree to restrict output to maximize joint profits.
  5. monopolistically competitive firms that have agreed to earn normal profits in the long run.

Correct Answer: B

Explanation:

This describes a cartel.

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269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: A cartel is often the result of , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 162-4172.

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