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Collusion and Cartels

When the firm...

Question

When the firms in an oligopoly collude together, such a collusion is called a ___

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Solution

When the firms in an oligopoly collude together, such a collusion is called a cartel.

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Explain collusive and non- collusive oligopoly.

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There is a high degree of interdependence among firms in the oligopoly form of market.

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