If four electronics companies agree to decrease their production of cell phones and raise the price of their cell phones to $400, this is an example of ________ .
A)market division
B)bid rigging
C)price fixing
D)monopolization

Question

Quizplus · Accepted Answer

This is an example of price fixing, where companies collude to set a specific price for their products. This is illegal and anti-competitive behavior. Market division involves companies dividing up markets among themselves, bid rigging involves companies conspiring to manipulate the bidding process, and monopolization involves a single company dominating a particular market.

If Four Electronics Companies Agree to Decrease Their Production of Cell