What is price fixing (give an example):
Price fixing happens when multiple similar companies collaborate to raise the prices of their goods or services, aiming to boost their profits. This practice violates the principles of supply and demand and resembles a form of oligopoly, where a small number of companies dominate a particular market. For instance, if Shell, Esso, and Petro-Canada agreed to collectively increase their fuel prices, it would illustrate this behavior aimed at maximizing profits.