Oligopoly: Evaluating Costs and Benefits of Collusion
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 21 Mar 2021
According to the UK Competition and Markets Authority, cartels are a major barrier to competition and can lead to significantly increased prices and reductions of output, efficiency, innovation and choice, all of which are harmful to consumers. This short revision video evaluates some of the main arguments against collusive behaviour and a number of counter-arguments.