Question

Officers of five large building-materials companies meet and agree than none of them will submit bids on government contracts lower than an agreed-upon level. this is an example of:

Answer 1

The above is an example of Price Fixing. Price fixing is an understanding between members on a similar side in a market to purchase or offer an item, administration, or product just at a settled cost, or keep up the economic situations with the end goal that the cost is kept up at a given level by controlling free market activity.