Tacit collusion

Part $2$

A$.$

occurs when firms engage in formal agreements to reduce output and increase prices in their industry.

B$.$

is more likely to be successful in increasing industry profits when there are a$$ few, similar firms in the industry.

C$.$

is more likely to effectively raise prices in the industry when demand is elastic.

D$.$

is legal under the U$.$S$.$ antitrust laws.