-Collusion Results When a Group of Firms I

question 35

Multiple Choice

-Collusion results when a group of firms i. act separately to limit output, lower prices, and decrease economic profits.
Ii) act together to limit output, raise prices, and increase economic profits.
Iii) in Australia legally fix prices.

• A) i only
• B) ii only
• C) iii only
• D) i and iii
• E) ii and iii

Identify the difference between mandatory and permissive bargaining items.

Comprehend the concepts of distributive and integrative bargaining.

Learn about good faith bargaining and identify examples of bad faith bargaining.

Understand the role of BATNA (Best Alternative To a Negotiated Agreement) in negotiations.

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Definitions:

Situational Constraint

An influence on behavior due to the likelihood that other persons will learn about that behavior and respond positively or negatively to it.

Unit Relation

The fundamental connections or associations between elements within a system, defining how individual parts interact and contribute to the overall structure or function.

Sentiment Relation

The association or connection between feelings, attitudes, or emotions among individuals or within an individual regarding a particular subject or situation.

Vertical Structure

An organizational or societal hierarchy where roles and responsibilities are arranged in levels of importance or authority from top to bottom.