Explore BrainMass

Economics in a Global Environment

2-3 Paragraphs
Details: The organization you work for is under investigation for price fixing. You have been asked by your manager to gather some information on recent price fixing cases to help your company defend itself.

Visit the website for the U.S. Federal Trade Commission to get the facts on the most recent price fixing cases. Click on the Search icon, and do a search of News Releases using the words "price fixing." Write a 2-3 paragraph description of a recent price-fixing case.

We give praises to the market system and to the institution of private ownership of resources. But here we will find cases where firms do not act in the best interest of society. Basically, we fear large firms and markets with very few sellers, because firms in these circumstances, the managers of these firms tend to raise prices and restrict the level of output sold. Examine all the types of firms that have been accused of anti competitive actions like in the Microsoft case. You must report on one of these cases. The case must be related to price fixing. Cite your source and any references that you use in APA format.. You must paraphrase and interpret the information gathered on your case. Less than 20% of your posts should be in quotes..

Solution Preview

The response addresses the queries posted in 457 words with references.

//Before writing about the case considered for the study, we will discuss about the concept of price fixing for the business organizations. For the survival in the competitive market place, the business organizations focus on considering the concept of price fixing: //

Price fixing

When the business competitors make an agreement to sell the same product or service at the same price, it is called price fixing. The competitive process only works, however, when competitors set prices honestly and independently. When competitors collude, prices are inflated and the customer is cheated. (Price Fixing & Bid Rigging, 2007)

//Above, we discussed the concept of price fixing. As per the directions, now we will discuss the recent case on price fixing in the US Federal ...

Solution Summary

351 words, APA