Question

What is price-fixing? Discuss other recent examples of price-fixing.

Answer 1

Price fixing is defined as a when two entities usually companies , agree to sell a product at a set price. they mainly do this to maintain the profit margin. it is easiest for the monopolies to fix the prices. it is an agreement between the participants in the market to buy and sell product, services, or commodity only at fixed price and also maintain the market condition and the price is maintain by controlling the demand and supply.

For ex------ In 2006, the goverment of france fined 13 perfume brand and three vendors for price collusion between 1997 and 2000.