awalker3767 awalker3767

28-02-2020
Social Studies

contestada

Fitnit and Fittin' are firms engaging in explicit collusion when they indirectly coordinate actions by signaling their intention to reduce output and maintain pricing above competitive levels

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Parrain Parrain

02-03-2020

Answer: B) FALSE

Explanation:

Firms engaging in EXPLICIT COLLUSION reach a formal agreement which is more often than not, in secret, to influence prices and act somewhat as monopolies.

What Fitnit and Fittins did however is known as TACIT COLLUSION as their actions only indirectly affected prices.

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