An unwritten, unspoken agreement through which firms limit competition among themselves is:
A) satisficing.
B) tacit collusion.
C) overt collusion.
D) a cartel.

Question

Quizplus · Accepted Answer

Tacit collusion refers to an informal agreement or understanding between firms to limit competition without any explicit communication or agreement. It can take the form of price leadership, market sharing, or other cooperative behavior. Unlike overt collusion, tacit collusion is not illegal but is still frowned upon by antitrust authorities.

An Unwritten, Unspoken Agreement Through Which Firms Limit Competition Among