A Cartel Exists When

Multiple Choice

A cartel exists when:

A) a number of firms get together and agree on a policy of managing operations in a way that will maximize the joint profits of the group.
B) a number of firms get together and agree on a policy of managing operations in a way that will maximize the profits of the dominant member of the group.
C) a group of firms have joined together to make agreements on pricing but not on market strategy.
D) a group of firms have joined together to make agreements on market strategy but not on pricing.
E) a number of firms get together and agree on a policy of managing operations in a way that will maximize the profits of the largest four of five members of the group.