Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Get quick and reliable solutions to your questions from a community of seasoned experts on our user-friendly platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

g how is collusion used in oligopoly markets? what is a cartel? are they legal? give one example of either collusion or a cartel that has occurred in the past.

Sagot :

aamirmajeed5100

When oligopoly enterprises collaborate and behave as one company, this is called collusion.

How is collusion used in oligopoly markets?

In order to limit output and obtain the monopoly price, cooperating enterprises must come to an explicit or tacit agreement. Oligopolistic businesses can raise prices, limit industrial output, and split profits among themselves by banding together. Collusion occurs when businesses cooperate to decrease output and maintain high prices.

What is a cartel?

A cartel is a group of people who come together to control the supply of a product in order to advance their own interests.

Cartels are typically regarded as illegal under antitrust laws in the United States. A drug cartel is referred to as a cartel in criminal law.

The Organization of the Petroleum Exporting Countries (OPEC) is frequently cited as an example of a cartel in the oil and gas sector.

For more questions like Collusion click the link below:

https://brainly.com/question/14337888

#SPJ4

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.