Suppose there are four large manufacturers of toilet paper tissue. The largest firm announces that it will raise its prices by 15 percent due to higher raw materials. Within three days, the other three large toilet paper manufacturers announce similar price hikes. Would this decision to raise prices constitute evidence of explicit collusion among the four companies? Briefly explain.

Suppose there are four large manufacturers of toilet paper tissue. The largest firm announces that it will raise its prices by 15 percent due to higher raw materials. Within three days, the other three large toilet paper manufacturers announce similar price hikes. Would this decision to raise prices constitute evidence of explicit collusion among the four companies? Briefly explain.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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