how does price fixing work, can’t anyone charge whatever they want for a product?
In: 82
So there are three guys seeling oranges and two of them make a non-official deal saying they’ll both sell at a very low price. The third guy can’t go that low and is forced out of the market.
Now these two guys can start selling at a high price again, they just got the customers of the third guy so they’re gonna make more money.
What these two guys did wasn’t very fair and the market is supposed to be fair so price fixing like that is illegal.
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