Final answer:
The Competition and Consumer Act (2010) covers anti-competitive behavior in the area of consumer protection, which prevents practices like price fixing, bid rigging, and market sharing.
Step-by-step explanation:
The Competition and Consumer Act (2010) is an Australian legislation that addresses various aspects of market fairness and consumer law. Among the options provided, the Act specifically covers anti-competitive behavior in the area of consumer protection, which is Option 3. It aims to prevent practices that could harm consumers, such as price fixing, bid rigging, and market sharing, which are all forms of anti-competitive conduct.
These practices are similar to what is prohibited under the U.S. antitrust laws, which are enforced by entities like the Federal Trade Commission and the U.S. Department of Justice. Both sets of laws seek to maintain competition in the marketplace, protect consumers, and ensure that businesses engage in fair and legal practices. By blocking anti-competitive mergers, ending restrictive practices, and enforcing regulations, governments demonstrate their role in fostering a competitive economy for the benefit of consumers and the market as a whole.