simple What is the difference between price fixing and price discrimination? What laws govern each?
Price fixing occurs when competitors agree to set prices for their products or services at a certain level, which eliminates competition and can lead to higher prices for consumers. Price discrimination, on the other hand, involves charging different prices to different customers for the same product or service based on factors such as location, age, or buying history.
Price fixing is illegal in most countries and is subject to antitrust laws that are enforced by governmental authorities, such as the Federal Trade Commission in the United States. Price discrimination, however, is not necessarily illegal as long as it does not result in unfair competition or harm consumers. Laws that govern price discrimination vary by country and may include regulations related to anti-competition practices or consumer protection.