A group of competing companies that aim to maximize joint profits by coordinating their policies to fix prices, manipulate output, or restrict competition is called a(n)?

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A group of competing companies that aim to maximize joint profits by coordinating their policies to fix prices, manipulate the output, or restrict competition is called a cartel.

A cartel is a collection of independent marketplace contributors who collude with every other which will enhance their profits and dominate the marketplace. Cartels are normally institutions inside the identical sphere of business, and consequently an alliance of competitors.

A cartel is where extra organizations agree no longer to compete with each other. This conduct can take many forms, together with rate fixing, sharing markets, rigging bids, or proscribing the output of goods and services. This includes such behavior on the subject of interests in land.

Cartels are illegal in many jurisdictions, along with inside the u.s.a. in which they're included beneath four primary federal antitrust statutes: the Sherman Act segment 1, Sherman Act phase 2, the Clayton Antitrust Act, and the FTC Act.

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