An agreement among firms on price and segmentation is termed

An agreement among firms on price and segmentation is termed as a "cartel". A cartel is a group of firms or businesses that work together to control prices and restrict competition. The firms in a cartel agree to limit the production and distribution of their products or services, which results in higher prices and profits for the members of the cartel. This practice is generally illegal and considered anti-competitive behavior in most countries, as it restricts consumer choice and can lead to economic inefficiencies.