The type of structure where businesses can "collude" or work together to set prices is an Oligopoly. In an oligopoly, a few firms dominate the market, and they may engage in collusion to set prices or output levels to maximize their profits, as their decisions are interdependent.
In what type of structure can businesses "collude" or work together to set prices?
Group of answer choices
Oligopoly
Monopoly
Monopolistic Competition
Perfect Competition
1 answer
1 answer