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