In a monopolistic market, which of the following scenarios best exemplifies the formation of a cartel that utilizes barriers to entry and market segmentation for maximizing profits?

In a monopolistic market, a cartel is formed when a group of companies agrees to work together to control prices and limit competition. This is often done by creating barriers to entry, which make it hard for new businesses to start and compete. For example, if three large oil companies decide to set the same high price for gasoline and agree not to let any new companies enter the market, they can maximize their profits by reducing competition. Market segmentation occurs when the cartel targets specific groups of customers, allowing them to charge different prices based on demand or consumer characteristics. By using these strategies, the cartel can maintain high profits while keeping new competitors out of the market.