Which of the Following Is an Example of Implicit Collusion

question 112

Multiple Choice

Which of the following is an example of implicit collusion?

• A)product differentiation
• B)a retaliation strategy
• C)a second-price auction
• D)price leadership

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Definitions:

Promissory Estoppel

A legal doctrine preventing a person from going back on a promise, even if it was made without formal consideration, when others have relied on that promise to their detriment.

Quasi Contracts

Contracts imposed by courts to avoid unjust enrichment or unfair benefit, despite there being no formal agreement between the parties.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to someone else who has relied on that promise to their detriment.

Hegemony

The domination of one group over others, often achieved through cultural, ideological, or economic means rather than by direct force.