1. Cosumers can get products that are priced lower in competitive markets.
2. Seller differentiate thei products in nonprice competition.
3. Dimands are an example of market where a cartel exists.
4.Cartel are group of companies openly organized to set prices
5. Collusion sellers secretly agree to set production levels or prices for their products.
6. Trusts is another word for the huge monopolies that dominated the era of "big business".
7. Interstate Commerce Act was the 1st antitrust law passed.
8. Interstate Commerce Commission oversaw the railroads industry.