Exam (elaborations)
ECS2601 ASSIGNMENT 6 SEMESTER 1 2024
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Exam study book Microeconomia Basica of Carlos D Vila Toro, Carlos Dávila Toro - ISBN: 9783848461639 (ALL YOU NEED)
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5/27/24, 3:04 AM Assessment 6: Attempt reviewECS2601-24-S1 Welcome Message Assessment 6
QUIZ
Started on Monday, 27 May 2024, 2:17 AM
State Finished
Completed on Monday, 27 May 2024, 3:01 AM
Time taken 43 mins 52 secs
Marks 52.00/60.00
Grade 86.67 out of 100.00
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=19637770&cmid=879227 1/12
, 5/27/24, 3:04 AM Assessment 6: Attempt review
Question 1
Complete
Mark 0.00 out of 2.00
Read the following excerpt from Business Tech below and consider the Profit Payoff matrix to answer the question that
follow:
Competition Commission charges Wesbank and Toyota for collusion
“The Competition Commission has referred motor vehicle finance groups FirstRand Bank, Wesbank, and Toyota Financial
Services South Africa Limited (TFS) to the Competition Tribunal for prosecution on allegations of dividing the market by
allocating customers or suppliers.
The Commission’s investigation revealed that Wesbank and TFS entered into an agreement to divide markets by allocating
customers or suppliers in the market for the provision of vehicle finance in contravention of section 4(1)(b)(ii) of the
Competition Act. The motor vehicle finance market includes offering vehicle finance, leases, and dealerships financing.
“FirstRand Bank Limited (FirstRand), through its WesBank division, and TFS are involved in the provision of vehicle finance
services. They are therefore supposed to compete. They, however, concluded a shareholder agreement which contains
clauses that prevent them from competing,” the commission said.”
After an explicit agreement of collusion was confirmed by the commisison and being found to be illegal, Wesbank and Toyota
each decided on their own to provide vehicle finance either at a cournot level or collusion level.
Consider the Profit Payoff matrix to answer the question.
What is the dominant strategy payoff for Toyota and Wesbank?
a.
100, 60
b.
80, 80
c.
60, 100
d.
90, 90
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=19637770&cmid=879227 2/12
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