Question

The term collusion best fits which of the following descriptions?

a.a condition of the industry that falls between the extremes of monopolistic and perfectly competitive
b.a situation in which many firms act as price-takers producing a homogenous good
c.the situation in which firms act together to behave like a monopoly by holding quantity low and price high
d.a condition of the industry in which many firms compete to sell similar but differentiated products

Answer 1

c

Step-by-step explanation:

the situation in which films act together to behave like a monopoly by holding quantity low and price high.