An organization of producers of similar products, which controls output with the intention to fix price is a
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Correct Answer: Option A
Explanation:
A cartel is an association of independent producers or firms that agree to control production, prices, or market conditions. Its members may restrict output in order to influence or fix the price of their products.
A cartel is an association of independent producers or firms that agree to control production, prices, or market conditions. Its members may restrict output in order to influence or fix the price of their products.