price fixing

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price fixing

n.
1. The setting of artificially high prices for goods or services by unlawful agreement of competing companies.
2. Governmental setting of prices for goods or services.

price′ fix`ing

or price′-fix`ing,


n.
the establishing of prices at a determined level, either by a government or by mutual consent among producers or sellers of a commodity.
[1945–50]

price fixing

An illegal arrangement between competitors to set a common minimum price for their products. Price fixing is a conspiracy usually carried out by large corporations that dominate a particular market.
References in periodicals archive ?
Despite passage of six months, the ministry of petroleum failed to make a mechanism to fix prices of LPG.
The Justice Department still is investigating whether ADM and other companies colluded to fix prices on lysine and other crop-based products, and whether turncoat executive Mark E.