When All Firms in the Industry Charge the Same Price

question 32

True/False

When all firms in the industry charge the same price, this is evidence of collusion. Explain.

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Definitions:

Code of Ethics

A set of principles and rules used by individuals and organizations to govern their decision-making process in a way that is consistent with moral and ethical standards.

Ethical Dilemma

A situation where an individual faces a decision between two morally right or wrong choices, with no clear right or wrong answer.

Gender

A social construct that encompasses a range of identities, expressions, and roles often associated with being male, female, a blend of both, or neither, and is influenced by social and cultural norms.

Racial Discrimination

Racial Discrimination is the unfair treatment of individuals based on their race, characterized by exclusion, restrictions, or preference that hampers equality of opportunity.