Post Utme Delsu 2019 Commerce Question 32

Practice objective / multiple choice question 32 from the 2019 Post Utme Delsu Commerce examination.

Post Utme Delsu 2019 Commerce Objective / Multiple Choice

Question 32 POST_UTME_DELSU • 2019 • COMMERCE • objective

What is the main difference between a cartel and a monopoly in the context of international trade?

Correct Answer A. A cartel is a group of firms that agree to fix prices, while a monopoly is a single firm that controls the market

B. A cartel is a single firm that controls the market, while a monopoly is a group of firms that agree to fix prices

C. A cartel is a group of firms that agree to divide the market, while a monopoly is a single firm that controls the market

D. A cartel is a group of firms that agree to fix prices, while a monopoly is a firm that has a patent or copyright

Correct Answer

Correct Option:

A cartel is a group of firms that agree to fix prices, while a monopoly is a single firm that controls the market

This is Post Utme Delsu 2019 Commerce Question 32. It is one of the objective questions from the 2019 Post Utme Delsu Commerce examination.

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