ECONOMICS
MARKET FAILURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Collusion
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Something that probably happens a lot more than people dare to even think about
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A word that the current President is currently believed to have taken part in by some
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A disagreement in which producers dont cooperate on production levels and pricing which is illegal in the U.S
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An arrangement in which producers cooperative on production levels and pricing which is illegal in the U.S
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Explanation:
Detailed explanation-1: -A distinction exists between explicit collusion, concerted practice, and tacit collusion. Explicit collusion between competitors, which includes communication and agreement with respect to core elements of competition, is illegal worldwide.
Detailed explanation-2: -Price fixing, bid rigging, and other forms of collusion are illegal and are subject to criminal prosecution by the Antitrust Division of the United States Department of Justice.
Detailed explanation-3: -"The Three Types of Collusion: Fixing Prices, Rivals, and Rules” by Robert H.
Detailed explanation-4: -Collusion is when two or more parties secretly agree to defraud a third-party of their rights or accomplish an illegal purpose.
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