Question

Railroad companies all over the nation began setting the same prices, not competing for the lower price. What is this called? How is this unfair to the average customer?

Answer 1

Price fixing.

Step-by-step explanation:

Price fixing is the situation when corporations or companies come together to set a fixed price for goods or services instead of letting market trend set it for them.

This is illegal and the Antitrust division will have to wade in if such is suspected.

It is a disadvantage for the customers because there is an unfair competition and the prices are higher than it should be.