When Two or More Firms Conspire to Fix Prices, They

question 53

Multiple Choice

When two or more firms conspire to fix prices, they do something

• A)anticompetitive but legal.
• B)competitive but illegal.
• C)illegal and anticompetitive.
• D)legal and competitive.
• E)that increases profits of major producers in the market.

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Definitions:

Id

A term used in psychoanalytic theory to describe the part of the unconscious mind that contains our basic drives and instincts.

Primary Process

This term refers to the initial, unconscious way the mind operates to fulfill desires and satisfy basic needs through immediate gratification, according to Freudian psychology.

Secondary Process

In psychoanalytic theory, it refers to the rational and conscious thought processes involved in problem-solving and decision-making.

Ego

A component of Sigmund Freud's psychoanalytic theory, representing the rational part of the personality which mediates between the desires of the id, moral demands of the superego, and the realities of the external world.