SSC MTS EXAM

Detailed explanation-1: -Illegal price fixing occurs whenever two or more competitors agree to take actions to raise, lower, maintain, or stabilize the price of any product or service.

Detailed explanation-2: -"The Three Types of Collusion: Fixing Prices, Rivals, and Rules” by Robert H. Lande and Howard P.

Detailed explanation-3: -There are two types of collusion tacit collusion and explicit collusion. The tacit technique employs various methods to achieve results, the most popular being price leadership. The other type is explicit collusion, where businesses openly coordinate to agree on collusive methods.

Detailed explanation-4: -Collusion occurs when entities or individuals work together to influence a market or pricing for their own advantage. Acts of collusion include price fixing, synchronized advertising, and sharing insider information. Antitrust and whistleblower laws help to deter collusion.