How can a cartel use bid rigging to influence the market?

1 Answer
SCooke
Mar 23, 2016

When the “supply” side of resources is at an artificially set point the “demand” side cannot create market adjustments.

Explanation:

It is a form of “price fixing” through an agreement to bid within only a limited range of prices for particular projects. When the “supply” side of resources is at an artificially set point the “demand” side cannot create market adjustments.

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