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What else can I help you with?
What is the federal law that prohibits price fixing called?
I believe you're looking for antitrust laws
What do you call an agreement made between different companies to charge the same amount for a product?
Price fixing (it is illegal).
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.
A group of companies agrees to charge the same inflated price for a good?
price fixing
Why would group of companies be willing to cooperate in price fixing?
To maximise profits.
Why do firms go into price fixing?
To prevent price instability and fluctuations so that companies don't lose money.
What do you call an agreement made between different companies to charge the same amount amount for products?
An agreement between different companies to charge the same amount for a product or service is known as "price-fixing" whereby rival companies agree not to sell goods below a certain price.
The common definition of price fixing is?
When companies agree to set prices artificially high.
What is an agreement made between different companies to charge the same amount for products?
Price Fixng or Cartel.
What are the Advantages of price fixing in the business?
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 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.
Why would a group of companies be willing to cooperate in price-fixing?
So that they could all make more money.
