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In which of the following situations does overt collusion exist?a. Smaller firms in an industry have an unspoken agreement to charge the same price at the largest firm.b. Competition among a large number of small firms generate a stable market pricec. Firms in an industry agree openly on price and output, and they jointly make other decisions aimed at achieving monopoly profits.d. Competition among a large number of small firms generates similar but slightly different prices.

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