How statement one is incorrect ?

Note: This paper contains seventy five (75) objective type questions of two (2) marks each. All questions are compulsory. 1. Which among the following is/are true for á Cartel1? I. It aims at maximising of individual firm's profit. IL. It decides the total output in the industry to which Cartel represents. III. It does not fix the price at which members sell their output. Answer from the code below: (1) All are true. r (2 Iand II are true. (3) Only II is true. (4) Only I and III are true. 2. Why does demand curve have a negative