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How would price fixing and collusion help producers?

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Collusion may happen in a variety of ways across various market types. In each case, groups gain an unfair advantage collectively. Price fixing is one of the most common forms of collusion. Price fixing happens when a small number of businesses, known as an oligopoly, dominate a specific supply market. This small group of firms sell the same product and have come to an agreement to fix the price. Prices may be forcefully reduced in order to drive away weaker rivals, or they may be artificially raised in order to support the group's interests at the expense of the customer.

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