In the U.S., the ________ and the ________ prohibit firms from explicitly agreeing to take actions that reduce competition.

Question

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The two laws that prohibit firms from explicitly agreeing to take actions that reduce competition in the U.S. are the Sherman Antitrust Act and the Federal Trade Commission Act. The Sherman Antitrust Act, enacted in 1890, prohibits businesses from engaging in monopolistic practices (such as price-fixing, market allocation, and bid-rigging). The Federal Trade Commission Act, enacted in 1914, established the Federal Trade Commission (FTC) to regulate unfair methods of competition and deceptive acts or practices. Together, these laws help promote competition and protect consumers from anti-competitive behavior.

In the US, the ________ and the ________ Prohibit Firms from Explicitly

In the US, the and the Prohibit Firms from Explicitly