Definition
Price Fixing Definition
Price fixing refers to an illegal practice where competitors agree to set prices for their products or services at a certain level, eliminating competition and manipulating market dynamics. This collusion typically involves agreements among competitors to fix prices, maintain price floors or ceilings, coordinate price increases, or allocate customers or markets among themselves. Price fixing restricts competition, harms consumer choice, and leads to inflated prices. It is considered a violation of antitrust laws in most jurisdictions, as it undermines the principles of fair competition and harms consumer welfare.
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