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Flura [38]
3 years ago
14

Please help!!!

History
1 answer:
prohojiy [21]3 years ago
7 0
Monopoly : has one supplier of a product. The seller here has market power and can control both price and quantity

Collision: when competing firms make a secret agreement to try to control a market. Collusion (practiced by cartels) is illegal in the United States. It reduces the level of competition in a market. Is more difficult in markets with large numbers of buyers and sellers.


Monopolies and collusion among sellers:
eliminate competitionIn industries with less competition, prices are likely to be higher
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