Asked by
precious hayes
on Oct 27, 2024Verified
Which factor would make it difficult for Georgia peach suppliers to collude?
A) only a few suppliers
B) each supplier having the same costs
C) buyers of peaches having very little bargaining power since peaches are homogeneous
D) only a few buyers of peaches
Homogeneous Product
A product that is viewed as identical no matter who produces it, making it impossible for consumers to distinguish between products based on brand or quality.
Peach Suppliers
Businesses or individuals that provide peaches to the market, contributing to the supply of this specific type of fruit.
- Identify the factors that make collusion more difficult or easier in an oligopoly context.
Verified Answer
SA
Learning Objectives
- Identify the factors that make collusion more difficult or easier in an oligopoly context.
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