What is an agreement among firms to charge one price for the same good called? price fixing a price war nonprice competition monopolistic competition

price fixing

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Price fixing

An agreement among firms to charge one price for the same good is called price fixing.

Explanation:

Price fixing refers to an agreement between businesses or competitors to sell their goods (products) or services at a certain price point. They can raise, lower or stabilizes prices or competitive terms. This is done in order to maintain profit margin. Price fixing among competitors is illegal because the antitrust laws require or state that each company establishes prices and other terms on their own, without agreeing with a competitor firm.

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