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Question
In the early 1980s, typical round-trip coach airfares from the East Coast to London were more than $500. Then Freddie Laker introduced the People's Express, a competing service into Newark at $350. Major airlines matched his price and did so until they drove People's Express out of business. Then prices shot back up to over $500. A lawsuit filed under the Sherman Act resulted in a judgment that the major airlines had explicitly tried to destroy a competitor. The People's Express case is an example of __________ on the part of the major airlines.
A. price fixing
B. price discrimination
C. deceptive pricing
D. predatory pricing
E. pricing constraints
Answer
This answer is hidden. It contains 233 characters.
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