cooperation

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cooperation

  1. the process whereby businesses seek to coordinate their pricing and output policies rather than compete with one another in order to secure higher profits. See OLIGOPOLY, COLLUSION, CARTEL.
  2. the process whereby individuals coordinate their work in GROUPS.

cooperation

  1. 1the process whereby FIRMS seek to coordinate their pricing and output policies rather than compete with one another in order to achieve JOINT-PROFIT MAXIMIZATION. See MUTUAL INTERDEPENDENCE, OLIGOPOLY.
  2. the process whereby individuals coordinate their work in TEAMS.