Question

An agreement among members of an oligopoly to set prices and production levels is called?A)price leadership.B)competition.C)collusion.D)imperfect monopoly.

Answer 1

C. Collusion

Step-by-step explanation:

secret or illegal cooperation or conspiracy, especially in order to cheat or deceive others.

Answer 2

C. Collusion This is the definition set forth in the Econ Chapter 7.3