Univ Airlines and MiragoAirlines are two competing airlines. They make an agreement to charge customers a certain price for airfreight. This leads to the filing of several lawsuits against them by other airlines
In this scenario, the two firms most likely indulged in _____.
a. penetration pricing
b. price skimming
c. price fixing
d. odd-even pricing
ANSWER: c
The two firms most likely indulged inprice fixing. Price fixing is an agreement between two or more firms on the price they will charge for a product.
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