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Economics
MEDIUM
ENGLISH
Economics
In which of the following circumstances would a cartel be most likely to work ?
The market for copper, where there are very few producers and the product is standardized.
Correct answer
B
The fast-food market where there are a large number of producers but the demand for fast food is inelastic
Option B
C
The coffee market where the product is standardized and there are a large number of coffee growers.
Option C
D
The automobile industry, where there are few producers but there is great product differentiation.
Option D
Correct answer: A
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