When firms in Oligopoly attempt to collude, they are trying to act like a ____________ (and...
When firms in Oligopoly attempt to collude, they are trying to act like a ____________ (and divide up its Profits)
- firm in Monopolistic Competition
- Monopoly
- firm in Perfect Competition
Homework Answers
When firms in oligopoly attempt to collude , they are trying to act like a Monopoly and divide up its profits. Because when firms collude ,they use restrictive trade practices to voluntarily lower output and raise prices in much the same way as a monopoly , splitting the higher profits that result. Hence,option(B) is correct.
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When firms in Oligopoly attempt to collude, they are trying to
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