By practicing , firms openly agree on price and output and jointly make other decisions in order to achieve monopoly profits.
A)overt collusion
B)tacit collusion
C)leadership price
D)competitive game

Question

Quizplus · Accepted Answer

The scenario described is overt collusion, as firms openly agree on price and output and jointly make decisions to achieve monopoly profits. Tacit collusion is typically a more subtle form of collusion, where firms understand each other's behavior without explicit communication. Leadership price and competitive game are not directly relevant to the scenario described.

By Practicing , Firms Openly Agree on Price and Output