Question

In ___________, competitors within an industry that make and market the same product conspire to keep prices high?

Answer 1

Collusion is when competitors within an industry conspire to keep prices high by limiting industry output and dividing profits among themselves.

Step-by-step explanation:

Collusion is the term used to describe the situation when competitors within an industry make and market the same product, but conspire to keep prices high. By acting together, these firms can hold down industry output, charge higher prices, and divide the profits among themselves. This behavior is common in oligopoly markets, where a small number of firms dominate the industry.