If firms meet to coordinate their prices or their output levels, this is known as collusion.

Name: If firms meet to coordinate their prices or their output levels, this is known as collusion.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Quizplus · Accepted Answer

Collusion is an agreement between firms to coordinate their behavior in order to achieve a desired outcome, such as controlling prices or output levels. This is generally considered to be illegal and anti-competitive behavior.

If Firms Meet to Coordinate Their Prices or Their Output