Which of the Following Is Least Likely to Be Price

question 14

Multiple Choice

Which of the following is least likely to be price fixing in breach of CCA Part IV?

• A)Competing businesses agreeing to set the same discounts.
• B)Competing businesses agreeing to increase their prices.
• C)Competing businesses agreeing to use a particular formula to set prices.
• D)Competing businesses agreeing to share information about their customers.

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Definitions:

Price

The fiscal amount presumed, asked for, or remunerated in return for an item.

Apples

A type of fruit that grows on apple trees, known for its sweet taste and the wide variety of types available.

Utility Function

A mathematical representation of how a consumer derives satisfaction or utility from consuming goods and services.

Substitution Effect

The economic principle that as prices rise (or incomes decrease), consumers will replace more expensive items with cheaper substitutes, holding utility constant.