Question

Which of these is a group of producers working together to raise prices and

increase profits?
A. defense contractors
B. a cartel
C. a trading bloc
D. a labor union

Answer 1

B. a cartel

Step-by-step explanation:

A cartel is a group of independent producers who collude to promote and protect their trade interests. Large producers in the same industry form cartels to manipulate supply and fix prices. Through the cartel, the large producers set prices that guarantee maximum profits for their members. The cartel eliminates price competition among the major producers in the industry.