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What else can I help you with?
What is the law which prohibits companies from engaging in price fixing?
The Sherman Anti-Trust Law.
What regulates Price fixing?
The U.S. Justice Department and the Federal Trade Commission
What is an agreement among firms to charge one price for the same good called?
Price fixing
What is an agreement among firms to charge one price for the same good called what?
Price fixing
What is horizontal and vertical price fixing?
Explain the differences between horizontal and vertical price fixing..
Is price fixing illegal?
Price fixing is illegal within the United States, Australia and the European Union
What do you call an agreement between different companies to charge the same amount for products?
This is called price-fixing, which is illegal as it reduces competition and can harm consumers by limiting choices and potentially leading to inflated prices.
Is price-fixing a type of collusion?
Price fixing can only be collusion if it happens due to all the firms in an oligopoly system come together to decide the price. Price fixing can also be implemented by government (especially in agriculture sector), in which case is not considered a collusion.
How are consumer affected by illegal price fixing?
In the situation of "price fixing" the consumer generally will have to pay more for a product.
Is price fixing fair ethical socially responsible?
Price fixing is when companies that have the same products in common come together to agree to a set price. Price fixing is fair and is in the best interest of being socially responsible by protecting the market from becoming a monopoly.
Can Price Fixing ever be justified?
no
What do you call an agreement made between different companies to charge the same amount for a product?
Price fixing (it is illegal).
