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Question
The law firm of Smith, Brown and Jones has just held a meeting in which they have decided that all fees charged by the partners will be $500 per hour with no exceptions. They also set nonnegotiable fees for such things as preparation of wills, real estate settlements and other types of standard types of cases. Smith, Brown and Jones:A.Are guilty of horizontal price fixing under the Sherman Act.
B.Are guilty of vertical price fixing under the Sherman Act.
C.Are guilty of predatory pricing under the Sherman Act.
D.Have broken no laws.
Answer
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