The three largest manufacturers of solenoid valves for plumbing applications conspired together so that all three firms would charge the same price for a 3-way valve.This is an example of
A)price inflation.
B)predatory pricing.
C)deceptive pricing.
D)price fixing.
E)price discrimination.

Question

Quizplus · Accepted Answer

The given scenario describes the illegal practice of price fixing, where competing firms collude to set a common price for their products or services, thus eliminating competition and maximizing profits.

The Three Largest Manufacturers of Solenoid Valves for Plumbing Applications