question archive Briefly describe the conditions under which cartels will be formed
Briefly describe the conditions under which cartels will be formed
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Briefly describe the conditions under which cartels will be formed.
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Conditions under which cartels will be formed are:
- When there are few sellers in the market.
- When all the sellers are ready to work unanimously.
- When all the firms fix the prices of their goods and services together.
- When all the firms work in an oligopoly market structure.
All these conditions are supposed to be met in order to form a cartel.
