Examlex
What is the main difference between the methodologies employed on the Coulter Gen-S and the Coulter LH 780?
Collusion
An agreement, usually secretive, between firms to fix prices, limit supply, or divide markets to reduce competition and increase profits.
Allocative Efficiency
A state of resource allocation where it is impossible to make any one individual better off without making at least one individual worse off, maximizing total social welfare.
Oligopolistic Firms
Companies operating in a market structure characterized by a small number of entities dominating the industry, often resulting in limited competition.
Collusively
Acting in a coordinated manner, often secretly, between firms to set prices or market conditions, usually to the detriment of competition.
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