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The Carp Corporation has decided to quit making its own components and instead buy them from a company in Thailand. This is an example of
Collusive Agreement
A secret or illegal cooperation or conspiracy, especially between businesses, to cheat or deceive others, typically by fixing prices or rigging markets.
Market Outcome
A result of interactions between buyers and sellers in a market, determining the price and quantity of goods or services traded.
Pure Monopoly
A market structure where a single seller sells a unique product in the market and no close substitutes exist.
Cartel
Market in which some or all firms explicitly collude, coordinating prices and output levels to maximize joint profits.
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