Collusion Meaning. Some of his employees were acting in collusion to rob him. In the above example a competitive industry will have price P1 and Q competitive.
It can be used to attain objectives forbidden by law. An often secret action taken by two or more parties to achieve an illegal or improper purpose. A secret arrangement wherein two or more people whose legal interests seemingly conflict conspire to commit Fraud upon another person.
Collusion is not always considered illegal.
Collusion is a way for firms to make higher profits at the expense of consumers and reduces the competitiveness of the market. Definition of collusion. May 16 2016 The term collusion refers to a secretive agreement which is improper or illegal between two or more parties to defraud someone or to engage in some other illegal or illegitimate activity. It can be used to attain objectives forbidden by law.
