What is the difference between a monopoly and a cartel?

The difference between a monopoly and a cartel is an important concept to understand when discussing antitrust law in Nebraska. Monopoly is a term used to describe a situation in which a single company or entity controls an entire market for a certain type of product or service. This means that the company has complete control over the pricing, production, and distribution of the product or service. A cartel is a type of agreement between companies to control the market for a certain type of product or service. In a cartel, the companies cooperate and agree on pricing, production, and distribution of the product or service, thereby limiting competition in the market. Monopolies are not necessarily illegal, however they can be viewed as anti-competitive practices by the government, and in some cases, the government may take action to break up a monopoly in order to promote competition. Cartels, on the other hand, are illegal under antitrust law, as they are collusive agreements that limit competition in the market. In Nebraska, the Attorney General has the authority to enforce antitrust laws and take action against companies who violate them.

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What is the difference between a monopoly and a cartel?

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