In 2004, the ACCC successfully prosecuted a number of petrol sellers in a Victorian town for collusion.The petrol sellers advertised their prices on boards outside their petrol stations.When one of the sellers wanted to raise petrol prices in the town, they would increase the price on their own board and then ring the other sellers to suggest that they 'go for a drive'.This is an example of the cost of:

Question

Quizplus · Accepted Answer

This is an example of transparent pricing where the petrol sellers were openly advertising their prices on boards. However, they colluded and coordinated with each other to increase the prices together, which is illegal.

In 2004, the ACCC Successfully Prosecuted a Number of Petrol