Tacit collusion results when different firms set identical prices without ever meeting to discuss prices because of a “meeting of the minds,” whereby competitors realize that it is in all their best interests to avoid price competition.
举一反三
- In perfect competition, ________. A: there are restrictions on entry into the market B: firms in the market have advantages over firms that plan to enter the market C: only firms know their competitors' prices D: there are many firms that sell identical products
- Competition among firms in an industry can lower prices and profits
- Which of the following characteristics is common to monopolistic competition and perfect competition? A: Firms produce identical products. B: Entry barriers into the industry are low. C: Each firm faces a downward-sloping demand curve. D: Firms take market prices as given.
- The meeting was put off because we _____ a meeting without John.
- Price terms: To show costs and liabilities between the sellers and the buyers. Prices are different on different price terms.(英译汉)