Do we need antitrust laws?
Antitrust laws protect competition. Free and open competition benefits consumers by ensuring lower prices and new and better products. In a freely competitive market, each competing business generally will try to attract consumers by cutting its prices and increasing the quality of its products or services.
What is the other half?
1 : a group of people who are not like someone because they are either very rich or very poor —used in the phrase how the other half lives They won a million dollars and, for a few years, got to see how the other half lives.
Which is an example of price fixing?
Example of Price Fixing In a small town, there are only two gas stations. The two gas stations are engaged in a tough competition with each other, undercutting prices to attract the most customers. One day, the manager at one of the gas stations decides to schedule a meeting with the manager at the other gas station.
How can we avoid price fixing?
Avoiding Price-Fixing or Price-Gouging Laws Avoid discussing future pricing (maximum or minimum) with competitors. Refrain from discussing with competitors any intention to charge emergency or other surcharges or eliminate discounts.
Is vertical price fixing illegal?
Vertical price-fixing arrangements include agreements by manufacturers to set minimum or maximum resale (i.e., retail) prices for their products. Direct agreements to maintain resale prices are per se illegal in the United States and subject to “hard-core restriction” in Europe. …
What is a violation of the Sherman Act?
The most common violations of the Sherman Act and the violations most likely to be prosecuted criminally are price fixing, bid rigging, and market allocation among competitors (commonly described as “horizontal agreements”).
How can antitrust violations be prevented?
How do you avoid violating antitrust laws? Never discuss pricing or pricing issues with any competitor. If you attend a trade show, for example, and other competitors are discussing pricing, walk away immediately. You have nothing to gain and everything to lose.