Asked by Rauph Adeoba on Jun 19, 2024
Verified
Collusion among firms always involves formal agreements.
Collusion
An agreement between competing firms to control prices or exclude entry of a new competitor in the market, often in violation of antitrust laws.
- Distinguish between the qualities and outcomes of collusive and non-collusive oligopolies.
Verified Answer
AN
Annie NavarroJun 22, 2024
Final Answer :
False
Explanation :
Collusion can also involve informal agreements or understandings among firms without any formal contract or agreement.
Learning Objectives
- Distinguish between the qualities and outcomes of collusive and non-collusive oligopolies.
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