Which Georgia law was violated when brokers agreed to set their commission rate at 4% to attract more business?

The correct answer pertains to the violation of competition principles under the Georgia Antitrust Act. When brokers conspire to set their commission rates at a specific percentage, such as 4%, they are engaging in price-fixing, which is a form of collusion that restricts competition in the marketplace. This practice can lead to an artificial inflation or deflation of service prices and is illegal under antitrust laws, which are designed to promote free competitive markets and protect consumers.

Understanding this violation is essential, as the goal of antitrust laws is to prevent companies from engaging in practices that would harm competition and lead to unfair advantages or disadvantages in the market. In this case, brokers collectively agreeing to a fixed commission rate undermines the ability of the real estate market to operate on true competitive terms, ultimately affecting consumers and other businesses negatively.

The other options, while related to business practices, do not specifically address the issue of collusive pricing among brokers, which is central to this scenario. The Georgia Uniform Deceptive Trade Practices Act focuses more on misleading or deceptive business practices rather than price-fixing. The Georgia Fair Business Practices Act aims to promote fair trade and prevent deceptive practices but does not specifically tackle antitrust violations. The Georgia Real Estate License Law governs