Which of the following is true about illegal price-fixing?

Illegal price-fixing refers to an agreement among competitors to raise, lower, or maintain prices at certain levels, thereby interfering with free market competition. The assertion that it can happen without a formal agreement is accurate because such collusions can occur through informal discussions or understanding among parties, rather than through explicitly documented contracts.

In many cases, competitors may signal their pricing intentions or establish tacit arrangements that don't involve direct communication, yet still result in anti-competitive behavior. The lack of a formal agreement does not mitigate the legality of the action; if there is a mutual understanding that leads competitors to align their pricing strategies, it is still considered illegal price-fixing.

Understanding the broader implications of this concept includes recognizing that price-fixing can result in significant penalties, including fines and legal consequences for the participants involved, reinforcing the importance of competitive practices in the marketplace. This knowledge is instrumental for real estate professionals to ensure compliance with legal standards and maintain fair competition.