mokoenakamo7
Answered

Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

impact of collusion in terms of output and price on consumers and producers​

Sagot :

Answer: See explanation

Explanation:

Collusion refers to the agreements among the sellers of a particular product to either fix or increase the price and also reduce output. The main idea behind this is to increase profits and also reduce the competitiveness in such market.

Collusion can bring about high prices for the consumers and this ultimately leads to the reduction in the consumer surplus. Also, the new firms that want to enter the market may discouraged since the collusion can be an entry barrier.

Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.