________ Is the Phenomenon That Occurs in Decision Making When

question 75

Multiple Choice

________ is the phenomenon that occurs in decision making when group members avoid disagreement as they strive for consensus.

• A) Goal displacement
• B) Domination
• C) Intuition
• D) Groupthink
• E) Brainstorming

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Definitions:

Oligopoly

A market structure characterized by a small number of firms controlling a large portion of the market share.

Collude

To collude means to come to a secret understanding for a harmful purpose; collaboration typically occurs between firms to set market prices unfairly.

Tacit Collusion

An unspoken, implicit agreement among competitors to not compete aggressively, often leading to higher prices and less competition without explicit communication or agreements.

Price Leadership

A pricing strategy where one leading company sets the price of products or services, and other competitors in the market follow.