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mash [69]
1 year ago
5

_________ arises when firms act together to reduce output and keep prices high. Group of answer choices Collusion A cartel A mon

opoly An oligopoly
Business
1 answer:
Mama L [17]1 year ago
7 0

Collusion arises when firms act together to reduce output and keep prices high.

<h3>Collusion</h3>

Collusion occurs when entities or individuals work together to influence a market or pricing for their own advantage. Antitrust and whistleblower laws help to deter collusion.

Collusion occurs when oligopoly firms make joint decisions, and act as if they were a single firm. Collusion requires an agreement, either explicit or implicit, between cooperating firms to restrict output and achieve the monopoly price.

<h3>Types of collusion</h3>
  • Formal collusion – when firms make formal agreement to stick to high prices. This can involve the creation of a cartel.
  • Tacit collusion – where firms make informal agreements or collude without actually speaking to their rivals.
  • Price leadership.

To learn more about collusion visit the link

brainly.com/question/14409158

#SPJ4

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Answer:

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It would actually be an increased production by the business.

Haha, I had to think for a tiny bit and re-check my answer to make sure it was right before giving it. Would hate to see you get it wrong. 
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