Multiple Choice
Between 1986 and 1998 the De Beers company controlled the world diamond market. De Beers and its affiliated association of producers restricted diamond sales to maximize profits. De Beers and its association was "the only game in town" and had what is
A) a cartel.
B) a duopoly.
C) monopolistic competitor.
D) perfect competitor.
Correct Answer:
Verified
Correct Answer:
Verified
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