When firms in an industry reach an agreement to fix prices, divide up market share, or otherwise restrict competition, they are practicing the strategy of:________

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28-07-2022
Business

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When firms in an industry reach an agreement to fix prices, divide up market share, or otherwise restrict competition, they are practicing the strategy of:________

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shivanijain4931 shivanijain4931 · Answer 1 · 2022-08-05T10:53:26+02:00

When firms in an industry reach an agreement to fix prices, divide up market share, or otherwise restrict competition, they are practicing the strategy of collusion.

An industry is a sector of the economy that produces a set of closely related raw materials, goods, or services. For example, we can mention the timber industry or the insurance industry.

Industries are usually classified according to the goods and services they produce. For example, the pizza industry includes all producers who produce pizza and sell it on the market. It is important to note that in order for a pizza maker to belong in the pizza industry, the products they make must be marketed.

Learn more about the industry here:https://brainly.com/question/26373150

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