On theoretical grounds, explain why a higher level of advertising might be expected in an oligopoly than in either of the polar cases of perfect competition or monopoly (16 marks)

Identify the most important differences between a merger and a strategic alliance. In what circumstances might an alliance be preferred to a merger? (16 marks)

The alternative methods of measuring firm's diversification(16 marks)

The relationships between diversification, competition and economic welfare. (16 marks)