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LSDefine

Simple English definitions for legal terms

Price fixing

Read a random definition: laureate

A quick definition of Price fixing:

Price fixing: When companies agree to set the same price for their products or services, it's called price fixing. This is illegal because it can hurt customers by making prices higher and limiting choices. Companies should compete fairly and set their own prices based on what people are willing to pay. If they work together to set prices, it's against the law.

A more thorough explanation:

Definition: Price fixing is when competitors make an agreement to raise, lower, or keep prices the same for their products or services. This is illegal because it can harm consumers by leading to higher prices or the elimination of competition. In a free market, competitors should set their prices based on supply and demand, not agreements with each other.

Examples:

  • Horizontal Price Fixing: Two competing fast-food chains agree to charge the same price for their cheeseburgers. This is illegal because it eliminates competition and can lead to higher prices for consumers.
  • Vertical Price Fixing: A manufacturer of a popular product requires retailers to sell it at a specific price, or else they won't be allowed to sell it at all. This is also illegal because it eliminates competition and can lead to higher prices for consumers.

Both of these examples illustrate price fixing because they involve competitors making agreements to set prices instead of competing freely in the market. This harms consumers because it can lead to higher prices and less choice. That's why price fixing is illegal under antitrust laws.

Price discrimination | Prima facie

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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