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Pernika Gupta
on Nov 05, 2024

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________ is a group of firms colluding to make price and output decisions.

A) A concentrated industry
B) An oligopoly
C) A cartel
D) Price leadership

Colluding

The act of cooperating or conspiring, especially in a deceitful way, often to fix prices or manipulate markets in a manner that is usually illegal.

Output Decisions

Refers to choices made by businesses about how much of a product to produce, based on factors like costs, demand, and competition.

  • Distinguish between different types of oligopoly models such as Cournot, price leadership, and collusion.
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Samuel SmithNov 12, 2024
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