Examlex
Identify which of the following statements is true.
Collusion
An agreement, usually secretive, between two or more parties to limit competition and manipulate prices for their benefit.
Quantity Output
The total amount of goods or services produced by a business, sector, or economy.
Noncooperative Behavior
Actions by firms that ignore the effects of those actions on the profits of other firms.
Marginal Costs
The cost incurred by producing one additional unit of a product.
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