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Why is collusion of sellers bad for buyers? Why is it harmful for buyers if sellers collude?
Collusion of sellers? Why is collusion of sellers good for seller and bad for buyers?
Can someone be a bit more serious in answering, rather than just for earning points. its really urgent for my research
2 Answers
- 2 decades agoFavorite Answer
The biggest problem is Price fixing. Naturally when two or more companies are competing for business this competition will drive down prices for their product or service. This benefits the consumer. If there is collusion between these companies they can set the prices without regard to competition.
- codrockLv 62 decades ago
Because they could all agree to rip off the buyers. For instance, agree not to sell a certain good or service below a certain price.
