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as reported in the wall street journal, the ceo of pilgrim's pride corp., one of the nation's biggest chicken producers, and three others were indicted for allegedly conspiring to decide how much they would charge for chicken sold to restaurants and grocery stores. this is an example of .

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One of the major chicken producers in the country and three other people were charged with colluding to select how much to cost for chicken sold at grocery stores. Price fixing is demonstrated here.

Price fixing: what is it but why is it terrible?

By tampering with the free marketplace's capacity to keep prices low, price-fixing agreements limit consumers' surplus because they make it harder for businesses to respond quickly and freely to one someone else's price changes.

Why do firms fix prices?

Pricing practices provide businesses the power to avoid market competition. Instead of competing in a market that is highly competitive, producers find it easier and more lucrative to band together and fix pricing. It victimizes customers and lessens the pressure on businesses to maintain competitive prices.

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