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Define and provide an example for price fixing.
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- 1, Explain how the mechanism for the application of three types of price discrimination that can be effective from a firm's point of view in order to maximize its profit. You are required to provide examples to show how this can be done.Bridgestone Corporation, the world’s largest tire and rubber producer, recently agreed to plead guilty to pricefixing along with 25 other automotive suppliers. What is price-fixing? Discuss other recent examples of pricefixing.Discuss non-price issues over which a buyer and seller can reach an agreement, and explain why each issue might be important to the buyer or seller?
- Discuss the Penalty Clauses for fixed price contractsBridgestone Corporation, the world’s largest tire and rubber producer, recently agreed to plead guilty to pricefixing along with 25 other automotive suppliers.s price-fixing? Discuss other recent examples of pricefixing.Product should have exchange value and must be capable of being exchanged between seller and buyer for a mutually a. Agreed price b. Exchange Value c. Value satisfaction d. None of these.