What is price-fixing and how is it illegal?

Price fixing is an illegal practice in which two or more companies agree to raise, fix, or otherwise maintain the price at which their goods or services are sold. This illegal practice is a form of antitrust law violation. In Mississippi, price-fixing is prohibited under § 75-24-5 of the Mississippi Antitrust and Trade Regulation Act. According to this statute, it is illegal for two or more persons who are in trade or commerce with each other to make any contract, agreement, or combination to fix or raise prices of any good or service that affects competition in the relevant market. Price-fixing is a serious antitrust violation that can have a detrimental effect on the marketplace. It can reduce the availability of goods or services, dampen competition, and lead to higher prices for consumers. Therefore, this practice is prohibited by state and federal antitrust laws. In Mississippi, violators of antitrust law, including those who engage in price-fixing, can face hefty fines and/or prison sentences. In addition, private individuals or companies may be allowed to bring a private lawsuit against the price-fixers in order to recover damages.

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What is price-fixing and how is it illegal?

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