if the only two firms in an industry openly agree to fix the price at a given level, then this is an example of: a price leadership. b overt collusion. c contestability. d tacit collusion. e non-cooperative strategies.

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25-10-2022
Business

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if the only two firms in an industry openly agree to fix the price at a given level, then this is an example of: a price leadership. b overt collusion. c contestability. d tacit collusion. e non-cooperative strategies.

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abhinavjh321 abhinavjh321 · Answer 1 · 2022-10-28T02:39:31-04:00

If the only two firms in an industry openly agree to fix the price at a given level, then this is an example of price leadership.

industry: a collective of profitable businesses or establishments that create or provide products, services, or sources of income. Industries are typically categorised in economics as primary, secondary, tertiary, and quaternary; secondary industries are additionally categorised as heavy and light. Agriculture, forestry, fishing, mining, quarrying, and mineral exploitation all fall under this category of a nation's economy. It can be divided into two categories: extractive industry and genetic industry. The former includes the production of exhaustible raw materials that cannot be increased through cultivation and the latter includes the production of raw materials that can be increased by human intervention in the production process.

The genetic industries include forestry, livestock management, agriculture, and fisheries, all of which are impacted by advances in science and technology related to renewable resources.

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