|price fixing definition marketing||0.74||0.5||7145||70|
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agreement that restricts price competition violates the law. Other examples of price-fixing agreements include those to: • Establish or adhere to price discounts. • Hold prices firm. • Eliminate or reduce discounts. • Adopt a standard formula for computing prices. • Maintain certain price differentials between different types, sizes, orWhat is price fixing in economics?
price-fixing, any agreement between business competitors (“horizontal”) or between manufacturers, wholesalers, and retailers (“vertical”) to raise, fix, or otherwise maintain prices. Many, though not all, price-fixing agreements are illegal under antitrust or competition law.Is price fixing unethical?
Why is price fixing unethical? Local communities have to pay more for products and services because the price is artificially manipulated. The fixing of a price of a product causes prejudice or harm to broader society and sadly, it is most often the poorest of the poor who suffer most. These practices are immoral and unethical.