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Help me choose the correct answers, thanks much. Question 19 4 pts Collusion is an informal agreement between two or more firms to act as
Help me choose the correct answers, thanks much.
Question 19 4 pts Collusion is an informal agreement between two or more firms to act as a monopoly by setting output and/or price. Cartel is a formal agreement between two or more firms to act as a monopoly by setting output and/or price. O True O False Question 21 5 pts The strategies used by Oligopoly firms may create a monopoly firm in the industry Include in your answer the definition of, explanation of, and real world example of the strategies used by Oligopoly firms: Game Theory and the Nash Equilibrium, Prisoner's Dilemma, (O may create a monopoly firm in the industry such as Collusion or Cartel. (O may create a dominant firm such as Price Leadership or the Kinked Demand Curve. (O involves strategies similar to a chess match such as Prisoner's Dilemma, Nash Equilibrium, and Game Theory. O All of the above are correct. (O None of the above are correctStep by Step Solution
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