When oligopolists make joint decisions concerning their prices and output levels,they are
A)a natural oligopoly
B)colluding
C)a duopoly
D)a homogeneous oligopoly
E)practicing bilateralism

Question

Quizplus · Accepted Answer

When oligopolists make joint decisions concerning their prices and output levels, they are colluding, which is a form of cooperation and coordination among competitors. This is often done to increase profits by reducing output and increasing prices.

When Oligopolists Make Joint Decisions Concerning Their Prices and Output