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Cartel

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A cartel is a group of independent market participants who collude to limit competition and increase prices by restricting production and creating artificial shortages. Cartels are inherently unstable due to the temptation of members to cheat and defect, leading to falling prices and the breakdown of cooperation. Examples of domestic and international cartels include the United States Gunpowder Trade Association and the OPEC cartel, which collude on oil production and rubber production, respectively.learn more on wikipedia