Question

A cartel differs from a monopoly in that (1 point)
one corporation has complete control of a product or service.
businesses making the same product agree to limit production.
one firm sets the prices for all goods in an industry.
all the firms involved in the same business merge into one entity.

Answer 1

B)businesses making the same product agree to limit production.

Answer 2

A cartel differs from a monopoly in that businesses making the same product agree to limit production. The definition of a cartel is "in economics, a cartel is an agreement between competing firms to control prices or exclude entry of a new competitor in a market."