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An example of price floor?
A price floor is government imposed limit on how low a price can be charged for a product or service. An example of a price floor in the US are minimum wage laws. The government has set the minimum wage that a company can pay an employee.
Which company in 2008 was accused of price-fixing?
In 2008, several major companies in the U.S. were accused of price-fixing in the vitamins market, with the most notable case involving companies like BASF, DuPont, and others. These companies faced allegations of colluding to fix prices for various vitamins, leading to inflated costs for consumers. The accusations resulted in investigations and settlements, highlighting the issue of anti-competitive practices in the industry.
What are 3 problems of allocating goods and services using nonprice-related methods?
The three problems of allocating goods and services using the non-price related methods is that it may lead to the exploitation of the customers, price fixing and may lead to huge loses.
What is an example of a market prospects ratio?
Price earnings ratio.
What is ball park pricing?
A ballpark price is an estimate price. For example, a video game may be $19.95, but the ballpark price would be $20.00.
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.
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.
Can Price Fixing ever be justified?
no
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.
What do you call an agreement made between different companies to charge the same amount for a product?
Price fixing (it is illegal).
When a government valorizes a commodity what is it doing?
Fixing the price
What happend in the 50's of McDonald's?
Price Fixing
Where is the dependent variable in a line graph?
The usual way is to plot the independent variable on the horizontal, and the dependent variable on the vertical. There are some where the dependent is on the horizontal, though. Supply-Demand and Price graphs in Economics comes to mind, as an example.
How would price fixing and collusion help producers?
secret
What unfair business practice do cartel use?
price fixing
