If the firms in an oligopoly collude, the results will represent what other type of industry?

Question

Quizplus · Accepted Answer

When firms in an oligopoly collude, they can create a situation similar to a monopoly where they act as a single entity and restrict output (thereby raising prices) to maximize profits. This is because the colluding firms can act in a way that is similar to a single monopolist, and the resulting market power can be similar to what a monopolist would have in a market where there are no other competitors.

If the Firms in an Oligopoly Collude, the Results Will