A grouping of producers which acts as a monopoly. Suppliers of similar products may coordinate their behaviour implicitly or explicitly by setting common prices and agreed market quotas, and acting as a single organization might act to increase profit (and prices). Professional organizations often act as though they were cartels, through such devices as negotiating a standard fee schedule (per item of service), banning advertising, making particular acts (such as performing injections) legal only for members (and illegal for members of closely related professions). See Competition.
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