Question

If oligopolist engage in collusion and successfully form a cartel, the market outcome is

Answer 1

Answer:

Explanation:

When oligopolists collude and form a cartel, the outcome in the market is similar to that generated by a perfectly competitive market.

Answer 2

Answer:

Explanation:

An oligopoly is a market form wherein a market or industry is dominated by a small group of large sellers. Oligopolies can result from various forms of collusion that reduce market competition which then typically leads to higher prices for consumers. Oligopolies have their own market structure.