What legal concept prohibits conspiracies that unreasonably restrain trade?

The legal concept that prohibits conspiracies that unreasonably restrain trade is known as Antitrust Laws. These laws are designed to promote fair competition for the benefit of consumers, prevent monopolies, and ensure that no single entity can dominate a market to the detriment of others. They address practices such as collusion among competitors to set prices or limit production, which can lead to inflated prices and reduced choices for consumers.

Antitrust laws are critical in maintaining a competitive marketplace and are enforced by various government agencies. Their primary goal is to foster an environment where businesses can compete fairly and new companies can enter markets without undue restriction from established players. This legal framework is fundamental to ensuring that the economy operates efficiently and that the benefits of competition are enjoyed by consumers.