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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 the United States legally fix prices.
Pity
A feeling of sorrow and compassion caused by the suffering and misfortunes of others.
Stoics
Ancient philosophers who advocated for a life lived in harmony with reason, emphasizing personal ethics informed by a system of logic and its views on the natural world.
Hedonists
Individuals who believe that the pursuit of pleasure is the most important goal of human life.
Courageous
Possessing or displaying bravery and willingness to face fear, danger, or difficulty.
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