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 ?
Similarly, the government should not fix prices because one cannot control the international prices of any commodity,' he added.
Despite passage of six months, the ministry of petroleum failed to make a mechanism to fix prices of LPG.
Hitachi-LG Data Storage and co-conspirators participated in meetings and conversations at different times to fix prices and rig bids for optical disc drives sold to Microsoft and HP, the DOJ said.