An arrangement in which firms conspire to fix prices is called

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Price fixing refers to a situation where firms come together to set a common price for their products or services. This is usually anti-competitive behavior, and is often seen as a violation of anti-trust laws. A cartel, on the other hand, is a more formal arrangement among firms in the same industry to limit competition and increase their power in the market. Price ceiling refers to a government-imposed limit on the price that can be charged for a particular good or service, while a duopoly refers to a market structure where only two firms are present, and they both dominate the market.

An Arrangement in Which Firms Conspire to Fix Prices Is