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In neo-classical economics, price fixing is inefficient. The anti-competitive agreement by producers to fix prices above the market price transfers some of the consumer surplus to those producers and also results in a deadweight loss. International price fixing by private entities can be prosecuted under the antitrust laws of many countries.
Cargolux admitted to making and giving effect to illegal price fixing understandings with each of Lufthansa, Air France and KLM that each of them would impose a fuel surcharge on cargo carried internationally by air across their networks, (except where local conditions in a particular port or in a particular geographic area prevented the ...
The Competition Commission of Pakistan (CCP) (Urdu: کمپیٹیشن کمیشن آف پاکستان), formerly Monopoly Control Authority, is an independent agency quasi-regulatory, quasi-judicial body of the Government of Pakistan for the enforcement of economic competition laws in Pakistan that helps ensure healthy competition.
It is also known as antitrust law (or just antitrust [4]), anti-monopoly law, [1] and trade practices law; the act of pushing for antitrust measures or attacking monopolistic companies (known as trusts) is commonly known as trust busting. [5] The history of competition law reaches back to the Roman Empire.
Dumping, also known as predatory pricing, is a commercial strategy for which a company sells a product at an aggressively low price in a competitive market at a loss.A company with large market share and the ability to temporarily sacrifice selling a product or service at below average cost can drive competitors out of the market, [1] after which the company would be free to raise prices for a ...
It identifies and corrects practices causing market impediments and distortions through competition law (also known as antitrust law). [1] In general it is a government agency , typically a statutory authority , sometimes called an economic regulator , that regulates and enforces competition laws and may sometimes also enforce consumer ...
A vertical agreement is a term used in competition law to denote agreements between firms at different levels of a supply chain.For instance, a manufacturer of consumer electronics might have a vertical agreement with a retailer according to which the latter would promote their products in return for lower prices.
Some types of profiteering are illegal, such as price fixing [4] [page needed] syndicates, for example on fuel subsidies (see British Airways price-fixing allegations), and other anti-competitive behaviour.