1. Please consider the following scenario:

A cartel appeals case is brought before the GC. This concerns 3 competing German electronics retailers (combined market share of 75%, 75 Million turnover), who have exchanged information on the usage of newly developed dynamic pricing algorithms. Subsequently, it has been observed that prices of the same electronic consumer products between the 3 retailers have become strikingly similar. However, for some electronics (microwaves) the similar price levels are higherthan competing retailers not part of the concerted practice, while the similar prices of other electronics (televisions) are lowerthan competing retailers not part of the concerted practice.

Argue to what extent the agreement in the scenario can be considered a restriction (by object or by effect) of competition under art. 101(1)