If a union of brokers in New York State bound together and agreed to only accept commissions of 9% or higher, far more than the typical 6% in a transaction, what may they be held liable for...?

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10-03-2022
Business

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If a union of brokers in New York State bound together and agreed to only accept commissions of 9% or higher, far more than the typical 6% in a transaction, what may they be held liable for...?

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abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2022-03-22T12:59:34+01:00

If a union of brokers in New York State bound together and agreed to only accept commissions of 9% what may be held liable for is: Price fixing.

What is price fixing?

Price fixing can be defined as the process in which market competitors decide to enter into an agreement concerning a market price by fixing a particular price on a product.

Based on the given scenario the union of brokers are making use of price fixing because they both agreed to accept a commission of 9% or higher.

Inconclusion what may be held liable for is: Price fixing.

Learn more about price fixing here:https://brainly.com/question/952789