What is collusive tendering?
A) Where two or more firms agree to adopt common practices to restrict competition
B) Where two or more firms secretly agree on the prices they will tender for a contract, which will be above those in a competitive market
C) Where the manufacturer of a product insists that the product should be sold at a specified retail price
D) Where a firm uses the profits made in one industry to subsidise its activities in another industry
Correct Answer:
Verified
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A) A
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