What is the difference between a monopoly and a cartel?

A monopoly and a cartel are two different concepts related to antitrust law in California. Both are agreements between companies that limit competition in some way, but with important differences. A monopoly refers to a single company that dominates the market for a particular product or service in an area. For example, a monopoly might be the only business that sells a certain type of appliance in a region. This means that the company has exclusive control over pricing, access, and other aspects of the market. A cartel, on the other hand, is an agreement between multiple competitors to form a joint venture that restricts competition. In this case, several companies agree to limit their output and raise prices so that they can all make more money. This can be illegal, especially if it harms consumers by raising prices or reducing their options. In general, a monopoly has more power over the market by controlling both production and pricing, while a cartel is a type of agreement between companies that limit competition. Antitrust law in California aims to protect competition and prevent companies from abusing their power in the marketplace.

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What is the difference between a monopoly and a cartel?

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