QUESTION 5 What action does the cartel take when a competitive fringe is present and producing? O a. The cartel needs to hault production and allow competitors to exhaust their supplies quickly in the high demand market. O b. They must set prices lower than monopoly and allow competitors to produce and exhaust supplies sooner, giving cartel more control in the long run. O c. They must set prices higher than monopoly and allow competitors to produce and sell their supplies at a loss. O d. The cartel needs to take no action with holding majority of market share