ENTREPRENEURSHIP

Detailed explanation-1: -Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors to raise, lower, maintain, or stabilize prices or price levels. Generally, the antitrust laws require that each company establish prices and other competitive terms on its own, without agreeing with a competitor.

Detailed explanation-2: -Price fixing refers to an agreement between market participants to collectively raise, lower, or stabilize prizes to control supply and demand. The practice benefits the individuals or firms involved in setting the price and hurts consumers and firms on the receiving end.

Detailed explanation-3: -price-fixing, any agreement between business competitors (“horizontal”) or between manufacturers, wholesalers, and retailers (“vertical”) to raise, fix, or otherwise maintain prices.

Detailed explanation-4: -Horizontal and vertical price fixing are the two most common types.

Detailed explanation-5: -Horizontal price fixing involves competitors that agree to raise, lower or stabilize prices. For example, when two competing fast-food chains that sell hamburgers agree on the retail price of cheeseburgers, that horizontal agreement is illegal under antitrust laws.