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Get Answers to all your Questions
Which type of anti-competitive practice involves two or more companies conspiring to fix prices, reduce competition, and allocate markets?
Option: 1
Monopoly
Option: 2
Bid rigging
Option: 3
Merger
Option: 4
Oligopoly
Answers (1)
Bid rigging occurs when competing companies collude to manipulate the bidding process for contracts or projects. Instead of competing fairly, they work together to ensure that certain companies win bids at predetermined prices, essentially eliminating competition and inflating prices. hence option b is correct.
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