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Question 8 of 10

What is price-fixing?

A. When different companies agree to charge the same price for products
B. When the government controls the prices of goods and services
C. When lawyers meet with business owners to set prices and shipping costs
D. When consumers stop buying a good because the price is too high



Answer :

GinnyAnswer

Final answer:

Price-fixing involves firms agreeing to increase prices and limit competition, sometimes through informal means.


Explanation:

Price-fixing refers to a group of firms colluding to increase prices and restrict competition. An example of this is the Great Electrical Conspiracy involving GE and Westinghouse. Price-fixing can also occur through tacit agreements without formal collusion.


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