1.11 Often market systems fail to provide adequate protection for the environment. This is primarily due to ....

a.

the fact that government is run by politicians and not by angels.

b.

the fact that we treat environment as a common resource.

c.

Monopolistic and Oligopolistic nature of the market.

d.

information asymmetry in the free market

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1.12 An effective competition policy should be able to prevent collusive behaviour and anti-competitive practices. Form the list below which of the practices are considered anti-competitive?

a.

Selling product or providing a service above equilibrium price

b.

Charge discriminatory prices or operate discriminatory trading conditions

c.

Moral hazard

d.

Predatory pricing