4 ms·
Any agreement between competing sellers to maintain prices at a certain level is price fixing. That's the dictionary definition. Any restaurant or group of rest
by Causality1 7y ago
Any agreement between competing sellers to maintain prices at a certain level is price fixing. That's the dictionary definition. Any restaurant or group of restaurants who heed her call to collectively raise prices to create a higher profit margin are engaged in price fixing. Perhaps morally justifiable price fixing, but they're still opting-out of competing with each other on price.
I'll pay higher prices for restaurants who pay their employees better than minimum wage. I'll pay higher prices for restaurants who use higher quality ingredients. I sure as shit am not going to pay higher prices just to take the owner's profit margin from 9% to 19%.
- smabie 7y agoHer writing that restaurants should raise prices and another restaurant owner reading it and deciding that's a good idea doesn't constitute price fixings, as there is no agreement or dialogue in place. She's merely putting out information that is being read and acted upon by someone else. For it to be price fixing, her and the other restaurant owner would need to mutually come to some agreement to both raise prices.
- kinkrtyavimoodh 7y agoAlso accusations of price fixing just break apart when you literally have tens of thousands of uncoordinated players. The generic restaurant gets as close to a commodity product as it can get while still being a pretty large undertaking.