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You'd think.
The gas/petrol/fuel-guys have been getting away with it for years.
We used to have an independent dealer here on Vancouver Island - Payless Gas, which was privately owned. They regularly initiated price-wars by significantly lowering their price on gas/petrol/fuel. The day the owner sold the company to a major, those price wars stopped. Haven't seen one in over 15 years.
Perhaps not a formal cartel, but effectively they are one. I view the publishing industry, for the most part, as falling into the same class.
"Hey Vern, just to let you know we're putting our prices up to $15.99 if you go along with it to."
"Um. Thanks Sparky, oddly enough we're doing the same thing."
or...
"Steve Jobs here, just wanting to let you all know at this luncheon I've arranged with all of you present that you've all agreed to $15.99 as a new price point, if all of you agree."
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