Final answer:
Antitrust laws are designed to prevent collusion and ensure competition by prohibiting practices such as price fixing, bid rigging, and market division. The FTC and Department of Justice enforce these laws, while also regulating restrictive practices that may indirectly reduce competition.
Step-by-step explanation:
Laws aimed at eliminating collusion and promoting competition among firms are known as antitrust laws. These laws prohibit a range of anticompetitive practices, such as competitors forming cartels to collude on pricing and output decisions, which is akin to behaving like a monopoly. The enforcement of these laws is carried out by the Federal Trade Commission (FTC) and the U.S. Department of Justice, which work to prevent firms from engaging in activities like fixing prices, rigging bids, and dividing markets through allocating customers or territories.