Examlex
Independence is a fundamental ethical principle for internal auditors.
Tacit Collusion
An agreement among competitors to act in a manner that increases profits without explicitly communicating or formalizing their actions as a pact.
Differentiated Products
Products that are similar but distinguished from each other by features, branding, quality, or other attributes.
Tacit Collusion
An unspoken arrangement between firms in a market to set prices or production levels that benefit them at the expense of market competition.
Marginal Costs
The augmented cost incurred by the production of an extra unit of a product or service.
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