An agreement among firms to charge the same price or otherwise not to compete is called

Question

Quizplus · Accepted Answer

The correct answer is collusion. Collusion refers to an agreement among firms to charge the same price or otherwise not to compete. This can lead to higher prices and reduced competition, which can be detrimental to consumer welfare. Collusion is generally considered illegal in most countries, as it violates antitrust laws that promote competition and protect consumers from anti-competitive practices by firms.

An Agreement Among Firms to Charge the Same Price or Otherwise