Assume the managers of the two major firms in an industry agree to set the price of their output at a fixed level so as to discourage new entrants into the market.This would be considered a violation of the:

Question

Quizplus · Accepted Answer

The Sherman Act of 1890 prohibits any agreement or collusion among competitors that would lead to restricting competition, including price-fixing arrangements.

Assume the Managers of the Two Major Firms in an Industry