Bid-rigging has all of these features EXCEPT
a. It is a collusive agreement
b. The bid-riggers pay a smaller amount than without bid-rigging
c. Bid-riggers need an auxiliary mechanism to allocate the good within the bid-riggers
d. Bid rigging is usually a legitimate and legal strategy for the buyer-side
Question 2
An allocation of resources is technically efficient if:
a. it is impossible to increase the output of a particular good.
b. it is possible to increase the output of all goods.
c. it is impossible to increase the output of one good without cutting back on the production of something else.
d. it is possible to increase the output of one good.
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