how does price fixing work, can’t anyone charge whatever they want for a product?
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Typically the number of large producers or sellers is quite small so it’s easy to come to an agreed price range with or without direct communication. There’s a bit of psychology at play. So for instance with a societal perception that things are though due to some global shortage the five companies producing something can all increase their price range without too much alarm while also typically decreasing the size. A thing to note is that a global shortage doesn’t actually have to exist, just the perception is needed. There’s a base reality but optics plays a massive role in nearly everything humans do.
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