The Cartelization of an Industry with a Homogeneous Product Usually

Multiple Choice

The cartelization of an industry with a homogeneous product usually means that

A) member firms have agreed to cooperate in reducing costs.
B) member firms have agreed to reduce their joint output.
C) the demand curve facing the industry must be linear.
D) the demand curve facing the industry must be elastic.
E) member firms have agreed to reduce investment.