2. Effective collusion requires firms to agree on both price and quality. A firm can l ower...

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2. "Effective collusion requires firms to agree on both price and quality. A firm can l ower price by raising quality or it can raise price by lowering quality, even without changing the actual monetary sale price. Unless a firm can keep its competitor from adjusting quality, the gains from price collusion will be short-lived." Do you agree? Why or why not?

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