12. (TCO 7) Price fixing is (Points : 5) an arrangement a manufacturer makes wit

Question

12. (TCO 7) Price fixing is (Points : 5)       

       an arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor.
       the practice of charging a very low price for a product with the intent of driving competitors out of business.
       the practice of charging different prices to different buyers for goods of like grade and quality.
       a conspiracy between firms to set prices for a product.
       a seller's requirement that the purchaser of one product also buy another product in the line.

Explanation / Answer

the practice of charging a very low price for a product with the intent of driving competitiors out of business

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