This is a type of oligopoly where firms collude or form a cartel to set prices and output levels in the market. The firms act as a single entity and make decisions jointly, which may lead to a decrease in competition and consumer surplus.
This is a type of oligopoly where firms collude or form a cartel to set prices and output levels in the market. The firms act as a single entity and make decisions jointly, which may lead to a decrease in competition and consumer surplus.