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Price fixing can create a stable market environment, allowing businesses to predict revenue and manage costs more effectively. It can also lead to higher profit margins for companies involved, as they can avoid price wars that typically erode profitability. Additionally, price fixing can enhance product quality and service consistency when companies collaborate to uphold standards. However, it's important to note that price fixing is often illegal and can lead to significant legal repercussions.
What else can I help you with?
What are advantages and disadvantages of price fixing?
Price fixing is what happens with supply and demand. An advantage is a business makes money. If someone employed by that business has a family, that can be good. A disadvantage is prices are usually very high just because people want the product.
What unfair business practice do cartel use?
price fixing
What is horizontal and vertical price fixing?
Explain the differences between horizontal and vertical 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 are the advantages and disadvantages of price fixing?
disadvantages you can go prison its bad and you shouldn't do it cheating innocent people out their money if caught u get fined ALOT advantages you get losts of money extra revenue means more profit
What are advantages and disadvantages of price fixing?
Price fixing is what happens with supply and demand. An advantage is a business makes money. If someone employed by that business has a family, that can be good. A disadvantage is prices are usually very high just because people want the product.
What unfair business practice do cartel use?
price fixing
What is one of the advantages of buying an exsiting business?
you can get it at a bargain price
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
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.
What are the advantages and disadvantages of price fixing?
disadvantages you can go prison its bad and you shouldn't do it cheating innocent people out their money if caught u get fined ALOT advantages you get losts of money extra revenue means more profit
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).
What are the Advantages of business letter?
what are the advantages of a business letter?
