Two forms of collusion​

Collusion can take one of two forms. Explicit collusion occurs when two or more firms in the same industry formally agree to control the market. Implicit collusion occurs when two or more firms in the same industry control the market through informal, interdependent actions.

Explanation:

  It is possible to engage in collusion in two ways. When two or more firms in the same industry formally agreed that they would control a particular market, it was termed "explicit collusion." The act of informal, independent co-operation between two or more businesses in the same industry results in implicit collusion.

Explanation:

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