In: Economics
Imagine you are one of the commissioners of the South African Competition Commission that investigated the anti-competitive practices in the motor vehicle car safety products sector mentioned in the extract. You have been requested to report in assignment essay format to parliament on your investigation: a) In your report on the findings, explain and discuss at a theoretical level five attributes of Oligopolies and how such a market operates with respect to decisions made on prices and output. [25 Marks] (10 marks for the attributes and 15 marks for the pricing structure) b) Discuss two contrasting features in the pricing structure of oligopoly with that of perfect competition. [10 Marks] c) Discuss how each of the practices reported on in the extract could have been interpreted as anti-competitive behaviour. [15 Marks]