"Conscious parallelism of action" among oligopolistic firms is an example of ____.
A)intense rivalry
B)a formal collusive agreement
C)informal,or tacit,cooperation
D)a cartel
E)none of the above

Question

Quizplus · Accepted Answer

Conscious parallelism of action among oligopolistic firms refers to a situation where firms in the same industry independently make decisions that lead to similar outcomes. This implies that such firms act in a manner that reflects their awareness of each other's actions and not as a result of a formal collusive agreement or cartel. This behavior is characterized by informal or tacit cooperation among the firms in the oligopoly market. Therefore, the best choice is C.

"Conscious Parallelism of Action" Among Oligopolistic Firms Is an Example