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An example of a cartel is

Commerce
JAMB 2023

An example of a cartel is

  • A. ECOWAS
  • B. AU
  • C. OPEC
  • D. EU
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Correct Answer: Option C
Explanation

A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market e.g OPEC

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