Suppose An Oil Cartel Has An Agreement

Lysine, an industry of $600 million a year, is an amino acid that farmers use as an additive for animal feed to ensure the proper growth of pigs and poultry. == Producer of Lysin is Archer Daniels Midland (ADM), but several other large European and Japanese companies are also in this market. In the first half of the 1990s, the world`s largest lysin producers met for a while in hotel conference rooms and decided exactly how much each company would sell and what it would charge. However, the US Federal Bureau of Investigation (FBI) had become aware of the cartel and intercepted a series of their phone calls and meetings. An oligopoly is a situation where a few companies sell most or all of the goods in a market.