In 2019, the Australian Competition Consumer Commission (ACCC) launched Federal Court proceedings against BlueScope Steel Limited (BlueScope) and its former general manager sales and marketing for alleged cartel conduct in relation to the supply of flat steel products. The Federal Court found the company and its former general manager guilty of price-fixing and cartel conduct. Conduct an economic analysis on the ACCC’s concerns and rationale behind its decision to launch legal action against BlueScope Steel Limited (BlueScope). Evaluate and discuss ACCC’s concerns and rationale in terms of market structure, competition policy, firm behaviour, consumer surplus, producer surplus, deadweight loss and market efficiency. In this evaluation and discussion, your group must draw a diagram to illustrate the impact of price-fixing and cartel activity on consumer surplus, producer surplus, deadweight loss and market efficiency on the demand and supply curves.
In 2019, the Australian Competition Consumer Commission (ACCC) launched Federal Court proceedings against BlueScope Steel Limited (BlueScope) and its former general manager sales and marketing for alleged cartel conduct in relation to the supply of flat steel products. The Federal Court found the company and its former general manager guilty of
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