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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
- UGC NET
- Management
'Collusion' is one of the co operative strategies in business combination that
(a) May be explicit (b) May be tacit
(c) May reduce technological risk (d) May be illegal in many countries
Which of the following option is correct?
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Eduncle Best Answer
Collusion is a non-competitive, secret, and sometimes illegal agreement between rivals which attempts to disrupt the market's equilibrium. The act of collusion involves people or companies which would typically compete against one another, but who conspire to work together to gain an unfair market advantage. The colluding parties may collectively choose to influence the market supply of a good or agree to a specific pricing level which will help the partners maximize their profits at the detriment of other competitors. It is common among duopolies.