MANAGEMENT

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: -Collusion is primarily an illegal secretive agreement or cooperation between two parties intending to disrupt market stability. Generally, individuals or companies who normally compete against each other decide to work together and influence the market to achieve competitive market advantage.

Detailed explanation-3: -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.

Detailed explanation-4: -Collusion is when two more businesses work together to remove their competition, set prices, and control distribution.

Detailed explanation-5: -"The Three Types of Collusion: Fixing Prices, Rivals, and Rules” by Robert H.