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Price fixing

An agreement between two or more competitors to charge fixed price levels for similar products, services, or commodity. It is also used to maintain the market conditions by maintaining prices at a given level by dominating supply and demand. The group of market makers involved in price fixing is sometimes referred to as a cartel.

The primary characteristic of price fixing is any mutual arrangement regarding price, be this expressed or implied.

See also:
Price maker
Price taker

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