ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Collusion is a non-competitive, secret, and sometimes illegal agreement between rivals which attempts to disrupt the market’s equilibrium. The act of collusion involves people or companies which would typically compete against one another, but who conspire to work together to gain an unfair market advantage.

Detailed explanation-2: -What is collusion? Collusion is where students work together to complete an assessment that should be taken independently. Talking to friends and peers about a topic is a valuable way to improve your understanding and support your learning.

Detailed explanation-3: -Collusion is an agreement of cooperation between firms or businesses that are often fraudulent, deceitful, and immoral. For example, in a market with competition, each business will sell its products until the point at which the marginal cost of manufacturing the last good equals the selling price.

Detailed explanation-4: -"The Three Types of Collusion: Fixing Prices, Rivals, and Rules” by Robert H.

Detailed explanation-5: -collusion, secret agreement and cooperation between interested parties for a purpose that is fraudulent, deceitful, or illegal. Related Topics: oligopoly. See all related content → An example of illegal collusion is a secret agreement between firms to fix prices.