1. The Australian Council of Trade Unions commissioned Professor Alan Fels to report on price gouging and unfair pricing practices by Australian Companies. The final report of his enquiry was released on 7^th February 2024 (Fels, A., 2024. Inquiry Into Price Gouging and Unfair Practices) and can be found at the following link:https://www.australianunions.org.au/2024/02/07/inquiry-into-price-gouging-full-report-released/

On pages 21-23 there is a discussion of various economic theories of profit-led inflation such as corporate concentration, consumer psychology and informal price coordination. Choose oneof the industries mentioned in the case studies (pp. 38-60) and discuss how you think some of the theories outlined explain the behaviour of Australian firms in your chosen industry