The law firm of Smith, Brown, and Jones has just held a meeting in which the three partners decided that all fees charged by each of them 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 cases. In this scenario, Smith, Brown, and Jones
A. are guilty of price discrimination under the Robinson-Patman Act.
B. are guilty of vertical price-fixing under the Sherman Act.
C. have broken no laws.
D. are guilty of horizontal price-fixing under the Sherman Act.
Answer: C
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