(also price fixing)
The maintaining of prices at a certain level by agreement between competing sellers.
- Restrictive practices such as price-fixing agreements between competitors were often permitted providing they were not shown to be against the public interest.
- A company spokesman says the quotes were taken out of context and the business is so competitive that price-fixing makes no sense.
- The most serious forms of cartel identified by the authority were price-fixing, bid rigging and market sharing by competitors.
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