Until about 1967. it was the manufacturer who set the price, not the business. If the business owner sold the item at less than the manufacturer's price, the manufacturer wouldn't supply him anymore.

So what business competed on was service and customer satisfaction. Also, because all businness sold the same goods for the ssme price, the small local shop could sell for the same price as the superstore 12 miles away. That meant that mom and pop stores flourished, abd coroporations couldn't use loss leaders to bankrupt a smaller business. There was also no point in fotming cartels.

You don't seem to understand that the version of business you are familiar with is not the only version.