There are 7 questions in the assignment and each of them should be completed separately in either single paragraphs or numerous paragraphs when necessary (simply number each answer from 1~7). To be succinct yet effective, you can use about 100~150 words to answer 3&5&6 mark questions and much more words to answer the 8&10 marks questions as they require more depth.
Read and consistently refer to the articles given in the uploaded material since they are probably important in my professor’s view.
Here are the questions and link to articles just in case the document does not work (look at the document as it has details).
1 How much damage do cartels do? (3)
2 What anti-competitive practices do cartels engage in? (3)
3 Why might firms wish to collude? (5)
4 Analyze three reasons why cartels are difficult to maintain. (8)
5 Outline some of the techniques that competition authorities have for detecting anti-competitive behavior. (5)
6 If cartel busting is to be effective it needs large fines and a high probability of getting caught. Discuss whether these conditions exist for the competition regulators. (6)
7 Oligopolistic industries are characterized by interdependence and uncertainty. Discuss whether firms, through colluding, can ever fully overcome the interdependence and uncertainty they face. (10)
Articles:
https://www.economist.com/business/2014/03/28/just-one-more-fix
https://www.economist.com/finance-and-economics/2012/12/15/the-scam-busters
https://www.icsa.org.uk/knowledge/governance-and-compliance/features/preventing-business
-cartels
https://voxeu.org/article/catching-cartels-new-toolkit
