Which of the following are rationales for the prohibition of anti-competitive agreements? 1. Best…
Efficient allocation of economic resources and better prices and quality for consumers are rationales for prohibiting anti-competitive agreements. Section 3 of the…
Choose your answer
Which of the following are rationales for the prohibition of anti-competitive agreements?
1. Best allocation of economic resources
2. Lowest price and highest quality
3. Higher level of wages to workers
Answer and explanation
Correct answer D
Efficient allocation of economic resources and better prices and quality for consumers are rationales for prohibiting anti-competitive agreements. Section 3 of the Competition Act, 2002 addresses agreements that harm competition; higher wages are not a general result guaranteed by this prohibition.
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