Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Our Q&A platform offers a seamless experience for finding reliable answers from experts in various disciplines. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

What is price-fixing?

A. When consumers stop buying a good because the price is too high

B. When lawyers meet with business owners to set prices and shipping costs

C. When the government controls the prices of goods and services

D. When different companies agree to charge the same price for products

Sagot :

GinnyAnswer

Final answer:

Price-fixing is when firms collude to set prices and limit competition, leading to higher prices and reduced options for consumers.


Explanation:

Price-fixing is a form of collusive behavior where a group of firms agree to set prices and restrict competition, typically resulting in consumers paying higher prices and limited choices. One famous example is the Great Electrical Conspiracy involving GE and Westinghouse, where they fixed turbine prices using tactics like designating winners based on the moon phase. Price-fixing can lead to legal consequences such as fines and jail time for involved executives.


Learn more about Price-fixing here:

https://brainly.com/question/35836761


Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.