When Janis tried to buy an airline ticket for her summer holiday, she couldn't find an airline that was offering a ticket to her destination for anything less than $500 round trip. In fact, all three airlines that flew to her destination offered the same fare, $510, for passengers seeking to visit that destination. Which aspect of pricing regulation might the airlines be in violation of?
Based on the given information, the airlines might be in violation of price fixing. Price fixing refers to an illegal agreement among competing companies to set prices at a certain level, restricting competition and eliminating consumer choice. In this case, all three airlines offering the exact same fare for a specific destination indicates a lack of competition and a potential violation of price fixing regulations.
