answersLogoWhite

0

When two or more businesses secretly agree to set their prices artificially high and not lower them, it constitutes price fixing, which is a form of anti-competitive behavior. This practice undermines free market competition, leading to increased prices for consumers and reduced choices. Such agreements are illegal in many jurisdictions, as they violate antitrust laws designed to promote fair competition and protect consumers. Companies found guilty of price fixing may face significant fines and legal penalties.

User Avatar

AnswerBot

4d ago

What else can I help you with?

Continue Learning about General History

What tariff type is used to protect a domestic industry?

A PROTECTIVE tariff is intended to artificially inflate prices of imports and protect domestic industries from foreign competition.


What effect did Tycoons have on the Industrial Revolution?

Monopolized smaller businesses and then used their power to inflate prices on their goods that were now widely available to others. Led to construction of railroads and large cities of steel.


Why have African nations had trouble feeding their people?

Land used for export crops could not be used to produce food crops. As a result, countries that had once been able to feed their own people now had to import food. This as costly, meanwhile, many goverments kept food prices artificially low. Low prices discouraged local farmers from growing food crops. Governments then had to subsidize parts of the cost of importing food from overseas.


How did the 2008 stock market crash occur?

The stock market crashed when the US gov't over-printed currency, thus starting inflation. From there, money was worth less and less which caused the prices on everything, including oil, to rise. as money was worth less, businesses began to close and banks had to be bailed out of bankruptcy with OUR taxpayer's billions. this caused stocks in businesses or corporations to plunge. it sounds like the end of the world, but really, it is not.


Who was benefited from the Stamp Act?

The Stamp Act of 1765 placed a tax on paper goods. This hurt the economy of the American colonies for businesses that sold paper good and also raised the prices for these products. The English Parliament passed this act to pay for the French and Indian War.