Tacit collusion exists when firms cooperate in reducing competition,but engage in no face to face negotiations to do so.

Name: Tacit collusion exists when firms cooperate in reducing competition,but engage in no face to face negotiations to do so.
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Question

Quizplus · Accepted Answer

Tacit collusion involves firms engaging in actions that limit competition without direct communication or formal agreements. This can include actions such as mirroring competitors' prices or avoiding advertising in certain markets.

Tacit Collusion Exists When Firms Cooperate in Reducing Competition,but Engage