A cartel is a formal agreement between competing companies to work together. Instead of competing, they coordinate their
Tag: cartel
collusion
Collusion happens when businesses in an oligopoly (a market dominated by a few large firms) secretly work together.
collusive oligopoly
A collusive oligopoly happens when companies in a market work together instead of competing. By cooperating, they aim
non-collusive oligopoly
A non-collusive oligopoly exists when a small number of firms operate in a market and compete independently. There