According to the textbook, what is the Canadian Competition Act term for an illegal agreement between sellers to prevent or unduly lessen competition or to unreasonably enhance the price of a product by selling at the same price?

Question

Quizplus · Accepted Answer

The term described in the question is price fixing, which is defined by the Canadian Competition Act as an agreement between competitors to "establish, maintain, increase or control the price for the supply of a product or service." It is illegal in Canada and can result in fines and other penalties. Bid rigging refers to collusive activity among bidders in a procurement process, price discrimination refers to charging different prices for the same product based on factors such as location or customer type, and predatory pricing refers to setting prices below cost in order to drive competitors out of the market. None of these terms accurately describe the situation described in the question.

According to the Textbook, What Is the Canadian Competition Act