coordinate their behaviour.A collusion agreement thatrequires firms to have somesort of communication inwhich they coordinate theirbehaviour.Organization of PetroleumExporting countries is anexample of this type ofmarket behaviour.Competitors in an industrythat make a legal bingingagreement to operate asone firm.1. Explicit cartel2. Implicit cartel3. Horizontal merger Match the concept with the appropriate description.A tacit collusion situation inwhich firms behave "as if"they would be in some sortof agreement that seems tocoordinate their behaviour.A collusion agreement thatrequires firms to have somesort of communication inwhich they coordinate theirbehaviour.Organization of PetroleumExporting countries is anexample of this type ofmarket behaviour.1. Explicit cartel2. Implicit cartel3. Horizontal mergerOC

The cartels refer to the phenomenon where the firms and businesses tend to collude with each other…

coordinate their be A collusion agreement that requires firms to have some sort of communication in which they coordinate their behaviour. Organization of Petroleum Exporting countries is an example of this type of market behaviour. Competitors in an industry 1. Explicit cartel 2. Implicit cartel 3. Horizontal merger

coordinate their be A collusion agreement that requires firms to have some sort of communication in which they coordinate their behaviour. Organization of Petroleum Exporting countries is an example of this type of market behaviour. Competitors in an industry 1. Explicit cartel 2. Implicit cartel 3. Horizontal merger

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q 03: How do oligopolies works? Give one example of each? How is the market structure different on the base of brand loyalty and price value?