Bid rigging is analogous to price fixing.

Question

Quizplus · Accepted Answer

Bid rigging and price fixing are both illegal practices that involve collusion between competitors to manipulate the market and eliminate competition. In bid rigging, competitors agree to submit non-competitive bids or to take turns submitting the winning bid in order to allocate contracts and maintain artificially high prices. Similarly, in price fixing, competitors agree to set a certain price for their products or services, eliminating the need for competition and creating a monopoly.

Bid Rigging Is Analogous to Price Fixing