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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
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.
What term refers to independent firms that agree to eliminate price competition among themselves?
Price fixing is when companies conspire to eliminate price competition among themselves.
What is the result of two or more firms collaborating on a wrongful act such as price fixing?
When two or more firms collaborate on a wrongful act like price fixing, they engage in anti-competitive behavior that violates antitrust laws. This can lead to legal consequences, including hefty fines and sanctions from regulatory authorities. Additionally, such collusion can distort market competition, harm consumers by raising prices, and ultimately damage the firms' reputations and long-term viability in the market.
What is fix day?
It is a day designated at software firms for fixing bugs.
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
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).
