______ occurs when competitors within an industry cooperate illegally for mutual benefit.
A) Collusion
B) Bribery
C) Corruption
D) None of these

Question

Quizplus · Accepted Answer

Collusion is the act of two or more firms working together and making secret and illegal agreements to control the market. This leads to companies setting prices at an agreed upon rate, reducing competition and ultimately harming the consumers. Bribery and corruption are separate issues that may or may not be related to collusion.

______ Occurs When Competitors Within an Industry Cooperate Illegally for Mutual