Price fixing happens when
A) two or more companies collude to sell a product or provide a service for price higher than what is expected in the market.
B) a company decides to set its price to match its competitor's price.
C) a company determines that in order to sell more of its product, it should lower its selling price.
D) demand exceeds supply for a company's product, and the company in turn, increases its selling price.

Question

Quizplus · Accepted Answer

Price fixing is an illegal practice where two or more companies agree to set prices at a certain level, rather than letting competition in the market determine them.

Price Fixing Happens When