Collusion Results When a Group of Firms I

question 211

Multiple Choice

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.

• A)i only
• B)ii only
• C)iii only
• D)i and iii
• E)ii and iii

---

Definitions:

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.