An organization of producers agreeing to limit the output of their product in an effort to raise prices and profit ?
Correct answer: A. Cartel
- A. Cartel
- B. Capital account
- C. Buffer stock
- D. Capital account
Explanation
A cartel is an agreement among producers to restrict supply, allowing them to raise market prices and increase joint profits. A buffer stock stabilizes prices through stored commodities rather than producer output agreements.
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