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WAEC Economics 2009 Question 48

Question 48

Market Structures

One major aim of a cartel is to

  1. A.increase production
  2. B.regulate output through quota system
  3. C.have a joint account
  4. D.share profits equally.
Show the answer and explanation

Answer: B (regulate output through quota system)

Explanation

A cartel restricts output by giving each member a quota, to keep prices high.